Alumis (NASDAQ:ALMS) Director James Tananbaum Purchases 190,500 Shares

Alumis Inc. (NASDAQ:ALMS) Director James Tananbaum purchased 190,500 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average cost of $6.56 per share, with a total value of $1,249,680.00. Following the acquisition, the director directly owned 2,542,003 shares in the company, valued at $16,675,539.68. This trade represents a 8.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Alumis Stock Up 2.5%

Shares of ALMS traded up $0.16 during trading hours on Wednesday, reaching $6.57. The stock had a trading volume of 1,624,729 shares, compared to its average volume of 821,277. The company has a market cap of $683.67 million, a P/E ratio of -1.62 and a beta of -1.33. Alumis Inc. has a 52 week low of $2.76 and a 52 week high of $10.49. The firm has a 50-day moving average of $4.61 and a 200 day moving average of $4.23.

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

Institutional Trading of Alumis

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Alumis during the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey boosted its stake 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 worth $32,000 after buying an additional 7,165 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Alumis in the second quarter valued at about $36,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALMS. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company initiated coverage on shares of Alumis in a report on Friday, July 25th. They set an “overweight” rating and a $17.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research note on Thursday, November 13th. Finally, Morgan Stanley lowered their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and a consensus price target 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.