Srinivas Akkaraju Acquires 186,377 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju bought 186,377 shares of Alumis stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average cost of $9.84 per share, with a total value of $1,833,949.68. Following the completion of the transaction, the director owned 1,265,253 shares of the company’s stock, valued at $12,450,089.52. This trade represents a 17.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Srinivas Akkaraju also recently made the following trade(s):

• On Thursday, December 4th, Srinivas Akkaraju purchased 66,027 shares of Alumis stock. The stock was acquired at an average cost of $8.18 per share, for a total transaction of $540,100.86.
• On Wednesday, December 3rd, Srinivas Akkaraju acquired 100,000 shares of Alumis stock. The shares were acquired at an average cost of $7.75 per share, with a total value of $775,000.00.
• On Tuesday, December 2nd, Srinivas Akkaraju bought 96,000 shares of Alumis stock. The stock was acquired at an average cost of $7.55 per share, for a total transaction of $724,800.00.
• On Monday, December 1st, Srinivas Akkaraju purchased 86,350 shares of Alumis stock. The shares were acquired at an average price of $7.46 per share, with a total value of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju acquired 38,702 shares of Alumis stock. The stock was bought at an average price of $7.64 per share, for a total transaction of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju bought 48,537 shares of Alumis stock. The stock was bought at an average cost of $7.64 per share, with a total value of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju bought 125,743 shares of Alumis stock. The shares were bought at an average price of $7.20 per share, with a total value of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju purchased 137,772 shares of Alumis stock. The stock was bought at an average cost of $6.56 per share, for a total transaction of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju acquired 102,652 shares of Alumis stock. The shares were bought at an average price of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The stock was purchased at an average price of $5.51 per share, for a total transaction of $5,036.14.

Alumis Trading Up 2.4%

Shares of Alumis stock traded up $0.27 during mid-day trading on Tuesday, reaching $11.43. 958,843 shares of the stock were exchanged, compared to its average volume of 1,421,150. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $11.57. The firm has a 50-day simple moving average of $5.77 and a 200 day simple moving average of $4.56.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $3.14 million. Research analysts expect that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Institutional Trading of Alumis

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alumis during the third quarter worth about $160,000. Woodline Partners LP raised its holdings in Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after buying an additional 1,558,660 shares during the period. PharVision Advisers LLC bought a new position in Alumis in the third quarter valued at approximately $83,000. Prelude Capital Management LLC boosted its holdings in shares of Alumis by 698.0% in the third quarter. Prelude Capital Management LLC now owns 87,832 shares of the company’s stock valued at $350,000 after buying an additional 76,825 shares during the period. Finally, Mariner LLC raised its holdings in shares of Alumis by 177.3% during the third quarter. Mariner LLC now owns 84,873 shares of the company’s stock worth $339,000 after acquiring an additional 54,269 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Morgan Stanley cut their price target on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Monday. Finally, Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.20.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.