Srinivas Akkaraju Acquires 186,377 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju bought 186,377 shares of the business’s stock in a transaction on Friday, December 5th. The stock was bought at an average price of $9.84 per share, for a total transaction of $1,833,949.68. Following the transaction, the director directly owned 1,265,253 shares of the company’s stock, valued at approximately $12,450,089.52. This represents a 17.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, December 4th, Srinivas Akkaraju purchased 66,027 shares of Alumis stock. The shares were bought at an average price of $8.18 per share, with a total value of $540,100.86.
• On Wednesday, December 3rd, Srinivas Akkaraju purchased 100,000 shares of Alumis stock. The stock was purchased at an average price of $7.75 per share, with a total value of $775,000.00.
• On Tuesday, December 2nd, Srinivas Akkaraju acquired 96,000 shares of Alumis stock. The shares were purchased at an average price of $7.55 per share, for a total transaction of $724,800.00.
• On Monday, December 1st, Srinivas Akkaraju bought 86,350 shares of Alumis stock. The stock was purchased at an average cost of $7.46 per share, with a total value of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju bought 38,702 shares of Alumis stock. The stock was purchased at an average price of $7.64 per share, with a total value of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju purchased 48,537 shares of Alumis stock. The shares were purchased at an average cost of $7.64 per share, for a total transaction of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju purchased 125,743 shares of Alumis stock. The shares were purchased at an average price of $7.20 per share, for a total transaction of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju acquired 137,772 shares of Alumis stock. The stock was acquired at an average price of $6.56 per share, with a total value of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju bought 102,652 shares of Alumis stock. The shares were acquired at an average price of $6.05 per share, for a total transaction of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The shares were acquired at an average cost of $5.51 per share, for a total transaction of $5,036.14.

Alumis Stock Performance

ALMS stock opened at $12.11 on Thursday. The company has a market capitalization of $1.26 billion, a P/E ratio of -2.99 and a beta of -1.87. The company has a fifty day moving average price of $5.93 and a 200-day moving average price of $4.61. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $12.44.

Alumis (NASDAQ:ALMS) 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 company had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. As a group, sell-side analysts forecast that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALMS has been the topic of a number of research analyst reports. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Morgan Stanley decreased their price objective 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Institutional Trading of Alumis

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

About Alumis

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.