Srinivas Akkaraju Acquires 96,000 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was acquired at an average price of $7.55 per share, with a total value of $724,800.00. Following the purchase, the director owned 912,849 shares in the company, valued at $6,892,009.95. This represents a 11.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 bought at an average cost of $8.18 per share, with a total value of $540,100.86.
• On Wednesday, December 3rd, Srinivas Akkaraju bought 100,000 shares of Alumis stock. The shares were bought at an average cost of $7.75 per share, with a total value of $775,000.00.
• On Monday, December 1st, Srinivas Akkaraju acquired 86,350 shares of Alumis stock. The shares were purchased at an average price 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 shares were purchased at an average price of $7.64 per share, with a total value of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju bought 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 acquired 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 shares were 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 stock was bought at an average price of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The stock was bought at an average cost of $5.51 per share, with a total value of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju purchased 276,179 shares of Alumis stock. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Trading Up 5.9%

Shares of ALMS traded up $0.46 during mid-day trading on Thursday, reaching $8.30. The stock had a trading volume of 1,265,947 shares, compared to its average volume of 1,217,871. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $10.49. The business’s fifty day moving average is $5.33 and its 200 day moving average is $4.44.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million during the quarter, compared to the consensus estimate of $3.14 million. Sell-side analysts forecast that Alumis Inc. will post -8.51 EPS for the current year.

Institutional Trading of Alumis

A number of institutional investors have recently bought and sold shares of the business. 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 worth $26,000 after acquiring an additional 4,894 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Alumis in the second quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey raised its holdings 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 purchasing an additional 7,165 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of Alumis during the 2nd quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALMS shares. Weiss Ratings restated a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Alumis in a report on Thursday, August 14th. Morgan Stanley dropped 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. Finally, Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Alumis Company Profile

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.