Srinivas Akkaraju Purchases 440,140 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 440,140 shares of Alumis stock in a transaction dated Friday, September 4th. The shares were bought at an average cost of $11.17 per share, with a total value of $4,916,363.80. Following the transaction, the director owned 4,711,801 shares in the company, valued at approximately $52,630,817.17. This trade represents a 10.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 8th, Srinivas Akkaraju sold 96,131 shares of Alumis stock. The shares were sold at an average price of $10.55, for a total transaction of $1,014,182.05.
• On Tuesday, September 8th, Srinivas Akkaraju bought 546,581 shares of Alumis stock. The shares were bought at an average cost of $10.63 per share, for a total transaction of $5,810,156.03.

Alumis Stock Down 7.4%

ALMS traded down $0.78 during midday trading on Wednesday, hitting $9.80. The company had a trading volume of 3,808,867 shares, compared to its average volume of 3,294,204. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.54 and a beta of -0.81. The stock’s 50 day moving average price is $24.32 and its 200 day moving average price is $24.24. Alumis Inc. has a 52 week low of $3.76 and a 52 week high of $31.35.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The firm had revenue of $1.66 million during the quarter, compared to analyst estimates of $3.65 million. Research analysts predict that Alumis Inc. will post -2.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Chardan Capital raised their price target on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Robert W. Baird set a $27.00 price target on Alumis in a research note on Tuesday, September 1st. HC Wainwright raised Alumis from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $25.00 to $15.00 in a report on Wednesday, September 2nd. Finally, Citigroup reissued an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alumis currently has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in Alumis during the second quarter valued at approximately $33,000. Corient Private Wealth LP lifted its stake in Alumis by 88.1% in the 2nd quarter. Corient Private Wealth LP now owns 35,144 shares of the company’s stock worth $989,000 after purchasing an additional 16,458 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Alumis in the 2nd quarter valued at $422,000. California State Teachers Retirement System grew its position in shares of Alumis by 2,643.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,217,939 shares of the company’s stock valued at $62,413,000 after purchasing an additional 2,137,094 shares in the last quarter. Finally, Moore Capital Management LP grew its position in shares of Alumis by 230.7% during the 2nd quarter. Moore Capital Management LP now owns 136,803 shares of the company’s stock valued at $3,850,000 after purchasing an additional 95,433 shares in the last quarter.

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.