Insider Buying: Alumis (NASDAQ:ALMS) Director Purchases 38,702 Shares of Stock

by · The Markets Daily

Alumis Inc. (NASDAQ:ALMS – Get Free Report) Director Srinivas Akkaraju acquired 38,702 shares of the company’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $7.64 per share, with a total value of $295,683.28. Following the acquisition, the director owned 730,499 shares in the company, valued at approximately $5,581,012.36. This trade represents a 5.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Monday, December 1st, Srinivas Akkaraju bought 86,350 shares of Alumis stock. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $644,171.00.
  • On Wednesday, November 26th, Srinivas Akkaraju bought 48,537 shares of Alumis stock. The shares were acquired at an average price of $7.64 per share, with a total value of $370,822.68.
  • On Thursday, November 20th, Srinivas Akkaraju acquired 125,743 shares of Alumis stock. The stock was bought at an average price of $7.20 per share, with a total value of $905,349.60.
  • On Wednesday, November 19th, Srinivas Akkaraju acquired 137,772 shares of Alumis stock. The stock was bought at an average price of $6.56 per share, with a total value of $903,784.32.
  • On Tuesday, November 18th, Srinivas Akkaraju bought 102,652 shares of Alumis stock. The stock was purchased at an average cost of $6.05 per share, with a total value of $621,044.60.
  • On Monday, November 17th, Srinivas Akkaraju purchased 914 shares of Alumis stock. The shares were purchased at an average price of $5.51 per share, for a total transaction of $5,036.14.
  • On Thursday, November 13th, Srinivas Akkaraju bought 276,179 shares of Alumis stock. The shares were acquired at an average price of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Price Performance

NASDAQ:ALMS traded down $0.32 during mid-day trading on Monday, hitting $7.35. 1,011,615 shares of the company’s stock were exchanged, compared to its average volume of 720,206. Alumis Inc. has a one year low of $2.76 and a one year high of $10.49. The business has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.37. The company has a market cap of $767.29 million, a PE ratio of -1.81 and a beta of -1.33.

Alumis (NASDAQ:ALMS – Get Free Report) last issued 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 firm had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. On average, equities analysts forecast that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Alumis in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alumis in a report on Tuesday, November 25th. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Morgan Stanley decreased their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

Get Our Latest Stock Report on Alumis

Institutional Investors Weigh In On Alumis

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the period. Kera Capital Partners Inc. purchased a new position in Alumis during the second quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey increased its position in Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after buying an additional 7,165 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares during the period. Finally, Western Wealth Management LLC purchased a new position in Alumis during the second quarter valued at approximately $36,000.

About Alumis

(Get Free Report)

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.

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