Srinivas Akkaraju Buys 38,702 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 38,702 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were bought at an average cost of $7.64 per share, for a total transaction of $295,683.28. Following the transaction, the director directly owned 730,499 shares in the company, valued at approximately $5,581,012.36. This represents a 5.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 1st, Srinivas Akkaraju purchased 86,350 shares of Alumis stock. The stock was acquired at an average cost of $7.46 per share, with a total value of $644,171.00.
• On Wednesday, November 26th, Srinivas Akkaraju acquired 48,537 shares of Alumis stock. The shares were acquired at an average price of $7.64 per share, with a total value of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju purchased 125,743 shares of Alumis stock. The stock was acquired at an average cost 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 shares were bought at an average cost 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 stock was bought at an average price of $6.05 per share, for a total transaction of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju purchased 914 shares of Alumis stock. The shares were bought at an average price of $5.51 per share, with a total value of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju acquired 276,179 shares of Alumis stock. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Price Performance

ALMS opened at $7.41 on Wednesday. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $10.49. The company’s 50-day moving average is $5.17 and its 200 day moving average is $4.38. The firm has a market capitalization of $773.53 million, a P/E ratio of -1.83 and a beta of -1.87.

Alumis (NASDAQ:ALMS) last announced its earnings results 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 firm had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. On average, equities research analysts expect that Alumis Inc. will post -8.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stoneridge Investment Partners LLC increased its position in shares of Alumis by 8.1% in the third quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock worth $118,000 after purchasing an additional 2,210 shares during the last quarter. Rhumbline Advisers raised its position in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after acquiring an additional 3,693 shares during the last quarter. Russell Investments Group Ltd. grew its position in Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after acquiring an additional 4,926 shares during the last quarter.

Analyst Ratings Changes

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

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.