James Tananbaum Buys 411,764 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director James Tananbaum acquired 411,764 shares of the stock in a transaction on Thursday, January 8th. The shares were bought at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the purchase, the director directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alumis Stock Performance

Shares of ALMS stock traded up $1.53 during mid-day trading on Monday, hitting $21.09. The company’s stock had a trading volume of 4,196,516 shares, compared to its average volume of 5,247,834. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -5.21 and a beta of -2.09. The business has a 50-day moving average price of $9.54 and a 200 day moving average price of $6.08. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $22.30.

Alumis (NASDAQ:ALMS) last released its quarterly 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 during the quarter, compared to analyst estimates of $3.14 million. Equities research analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Alumis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after purchasing an additional 4,894 shares during the period. Kera Capital Partners Inc. acquired a new stake in Alumis in the 2nd quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of 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 valued at $32,000 after acquiring an additional 7,165 shares during the period. New York State Common Retirement Fund lifted its position 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 last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Alumis in the second quarter worth $36,000.

Wall Street Analysts Forecast Growth

ALMS has been the topic of a number of analyst reports. Guggenheim upped their target price on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. Morgan Stanley upped their price objective on shares of Alumis from $22.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Oppenheimer restated an “outperform” rating and issued a $50.00 target price on shares of Alumis in a research report on Tuesday, January 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective (up previously from $20.00) on shares of Alumis in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alumis presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

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.