Insider Buying: Alumis (NASDAQ:ALMS) Director Purchases 186,377 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 186,377 shares of the stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $9.84 per share, for a total transaction of $1,833,949.68. Following the completion of the transaction, the director owned 1,265,253 shares in the company, valued at $12,450,089.52. This trade represents a 17.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 price 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 price of $7.75 per share, with a total value of $775,000.00.
• On Tuesday, December 2nd, Srinivas Akkaraju acquired 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 bought 86,350 shares of Alumis stock. The shares were acquired at an average cost of $7.46 per share, with a total value of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju purchased 38,702 shares of Alumis stock. The stock was acquired at an average price of $7.64 per share, for a total transaction of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju purchased 48,537 shares of Alumis stock. The stock was bought at an average cost of $7.64 per share, for a total transaction of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju acquired 125,743 shares of Alumis stock. The shares were bought at an average cost of $7.20 per share, with a total value of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju bought 137,772 shares of Alumis stock. The stock was bought at an average price of $6.56 per share, for a total transaction of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju bought 102,652 shares of Alumis stock. The shares were bought 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 stock was bought at an average price of $5.51 per share, with a total value of $5,036.14.

Alumis Price Performance

NASDAQ ALMS traded up $0.27 on Tuesday, hitting $11.43. 958,843 shares of the company were exchanged, compared to its average volume of 1,421,150. Alumis Inc. has a twelve month low of $2.76 and a twelve month high of $11.57. The company’s 50 day moving average price is $5.77 and its 200-day moving average price is $4.56.

Alumis (NASDAQ:ALMS) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $3.14 million. On average, analysts predict that Alumis Inc. will post -8.51 EPS for the current year.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Alumis by 12.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 127,854 shares of the company’s stock worth $785,000 after acquiring an additional 14,453 shares during the last quarter. Invesco Ltd. bought a new stake in Alumis in the 1st quarter valued at $164,000. Nuveen LLC acquired a new stake in Alumis in the 1st quarter worth $105,000. Corebridge Financial Inc. increased its holdings in shares of Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after purchasing an additional 3,693 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after buying an additional 4,926 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on ALMS. Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright restated 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 target price on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Monday. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.