Srinivas Akkaraju Purchases 86,350 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 86,350 shares of Alumis stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $7.46 per share, with a total value of $644,171.00. Following the completion of the purchase, the director owned 816,849 shares in the company, valued at approximately $6,093,693.54. This trade represents a 11.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, November 28th, Srinivas Akkaraju acquired 38,702 shares of Alumis stock. The stock was purchased at an average cost of $7.64 per share, for a total transaction of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju bought 48,537 shares of Alumis stock. The shares were purchased at an average cost of $7.64 per share, with a total value of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju bought 125,743 shares of Alumis stock. The shares were purchased at an average cost of $7.20 per share, for a total transaction of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju purchased 137,772 shares of Alumis stock. The stock was acquired at an average price of $6.56 per share, for a total transaction of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju acquired 102,652 shares of Alumis stock. The shares were acquired at an average price of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju acquired 914 shares of Alumis stock. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju bought 276,179 shares of Alumis stock. The stock was acquired at an average price of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Price Performance

ALMS stock opened at $7.41 on Wednesday. The firm has a market cap of $773.53 million, a PE ratio of -1.83 and a beta of -1.87. Alumis Inc. has a 12 month low of $2.76 and a 12 month high of $10.49. The firm has a 50 day simple moving average of $5.17 and a 200 day simple moving average of $4.38.

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

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently modified their holdings of ALMS. Russell Investments Group Ltd. boosted its position in Alumis by 320.9% during 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 last quarter. CWM LLC raised its holdings in shares of Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after purchasing an additional 9,464 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in Alumis in the second quarter worth $32,000. Corebridge Financial Inc. raised its holdings in Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after buying an additional 3,693 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Alumis by 199.7% during the 2nd 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 last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on ALMS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. Morgan Stanley decreased their target price on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.