Alumis (NASDAQ:ALMS) Stock Price Up 11.8% Following Insider Buying Activity

Alumis Inc. (NASDAQ:ALMS)’s stock price rose 11.8% during mid-day trading on Friday following insider buying activity. The company traded as high as $8.98 and last traded at $9.28. Approximately 352,432 shares were traded during trading, a decline of 51% from the average daily volume of 725,836 shares. The stock had previously closed at $8.30.

Specifically, Director Srinivas Akkaraju purchased 66,027 shares of the stock in a transaction dated Thursday, December 4th. The shares were bought at an average cost of $8.18 per share, with a total value of $540,100.86. Following the completion of the acquisition, the director owned 1,078,876 shares of the company’s stock, valued at approximately $8,825,205.68. This trade represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srinivas Akkaraju bought 100,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $7.75 per share, for a total transaction of $775,000.00. Following the purchase, the director owned 1,012,849 shares in the company, valued at $7,849,579.75. This trade represents a 10.95% increase in their position. The SEC filing for this purchase provides additional information. In related news, Director Srinivas Akkaraju acquired 96,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were acquired at an average price of $7.55 per share, for a total transaction of $724,800.00. Following the completion of the purchase, the director directly owned 912,849 shares of the company’s stock, valued at $6,892,009.95. The trade was a 11.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Alumis in a research note on Thursday, August 14th. Morgan Stanley dropped their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alumis in a research note on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.20.

Alumis Stock Performance

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.75 and a beta of -1.87. The business’s 50 day moving average is $5.48 and its 200 day moving average is $4.47.

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

Institutional Investors Weigh In On Alumis

Several large investors have recently modified their holdings of ALMS. Samsara Biocapital LLC lifted its position in shares of Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after buying an additional 1,534,872 shares during the period. Foresite Capital Management VI LLC lifted its holdings in shares of Alumis by 1.1% during the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after acquiring an additional 45,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Alumis by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares in the last quarter. Trium Capital LLP boosted its stake in shares of Alumis by 17.9% in the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after purchasing an additional 474,072 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Alumis in the 2nd quarter worth about $5,779,000.

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.