Srinivas Akkaraju Buys 86,350 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 86,350 shares of the business’s stock in a transaction on Monday, December 1st. The stock was purchased at an average cost of $7.46 per share, for a total transaction of $644,171.00. Following the completion of the acquisition, the director directly owned 816,849 shares of the company’s stock, valued at approximately $6,093,693.54. The trade was a 11.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, November 28th, Srinivas Akkaraju acquired 38,702 shares of Alumis stock. The shares were acquired at an average price of $7.64 per share, with a total value of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju purchased 48,537 shares of Alumis stock. The stock was 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 cost 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, 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 price of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju acquired 914 shares of Alumis stock. The stock was purchased at an average price of $5.51 per share, with a total value of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju acquired 276,179 shares of Alumis stock. The shares were acquired at an average price of $5.25 per share, with a total value of $1,449,939.75.

Alumis Stock Performance

NASDAQ ALMS traded down $0.32 on Monday, reaching $7.35. 1,011,615 shares of the company’s stock traded hands, compared to its average volume of 720,206. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $10.49. The firm has a market cap of $767.29 million, a price-to-earnings ratio of -1.81 and a beta of -1.33. The stock has a 50 day moving average price of $5.11 and a 200-day moving average price of $4.37.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. As a group, equities research analysts anticipate that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALMS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Morgan Stanley lowered their price objective on Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Finally, Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alumis has an average rating of “Moderate Buy” and an average target price of $19.20.

Institutional Trading of Alumis

Several hedge funds have recently made changes to their positions in ALMS. Russell Investments Group Ltd. raised its position in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares during the period. Kera Capital Partners Inc. acquired a new position in Alumis in the second quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Alumis by 199.7% during 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 during the period. New York State Common Retirement Fund increased its position in shares of Alumis by 173.7% during the second 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 last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $36,000.

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.