Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Acquires 276,179 Shares of Stock

by · The Cerbat Gem

Alumis Inc. (NASDAQ:ALMS – Get Free Report) Director Srinivas Akkaraju bought 276,179 shares of the stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $1,449,939.75. Following the completion of the purchase, the director owned 276,179 shares in the company, valued at approximately $1,449,939.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alumis Stock Up 0.9%

Shares of Alumis stock traded up $0.05 on Monday, reaching $5.57. The company’s stock had a trading volume of 1,182,851 shares, compared to its average volume of 695,207. The stock has a 50-day moving average price of $4.49 and a 200-day moving average price of $4.19. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $10.49. The company has a market capitalization of $579.61 million, a P/E ratio of -1.18 and a beta of -1.35.

Alumis (NASDAQ:ALMS – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts forecast that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Alumis in a report on Friday, July 25th. They issued an “overweight” rating and a $17.00 price objective on the stock. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Finally, Morgan Stanley reduced 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Read Our Latest Analysis on Alumis

Institutional Trading of Alumis

Several large investors have recently added to or reduced their stakes in ALMS. Corebridge Financial Inc. boosted its position in shares of Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares during the last quarter. Credit Industriel ET Commercial raised its stake in Alumis by 178.8% during the second quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock worth $1,161,000 after purchasing an additional 248,202 shares during the period. Blair William & Co. IL purchased a new position in Alumis during the second quarter worth about $200,000. Tybourne Capital Management HK Ltd. acquired a new position in Alumis in the 2nd quarter valued at about $4,198,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $368,000.

About Alumis

(Get Free Report)

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.

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