Alumis (NASDAQ:ALMS) Director Buys $726,545.06 in Stock

Alumis Inc. (NASDAQ:ALMS) Director James Tananbaum bought 117,374 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $6.19 per share, with a total value of $726,545.06. Following the transaction, the director owned 2,351,503 shares in the company, valued at approximately $14,555,803.57. This represents a 5.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alumis Price Performance

Shares of ALMS stock traded up $0.16 on Wednesday, hitting $6.57. 1,624,729 shares of the stock traded hands, compared to its average volume of 821,277. Alumis Inc. has a 1-year low of $2.76 and a 1-year high of $10.49. The company’s fifty day moving average is $4.61 and its 200 day moving average is $4.23. The company has a market capitalization of $683.67 million, a PE ratio of -1.62 and a beta of -1.33.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (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. As a group, equities research analysts expect that Alumis Inc. will post -8.51 EPS for the current year.

Institutional Investors Weigh In On Alumis

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research report on Thursday, August 14th. Wells Fargo & Company assumed coverage on Alumis in a research note on Friday, July 25th. They issued an “overweight” rating and a $17.00 target price on the stock. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Thursday, November 13th. Finally, Morgan Stanley cut their price objective on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Six 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 presently has a consensus 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.