Alumis Inc. (NASDAQ:ALMS – Get Free Report) Director Srinivas Akkaraju bought 546,581 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $10.63 per share, with a total value of $5,810,156.03. Following the transaction, the director directly owned 4,937,026 shares in the company, valued at approximately $52,480,586.38. This represents a 12.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Srinivas Akkaraju also recently made the following trade(s):
- On Tuesday, September 8th, Srinivas Akkaraju sold 96,131 shares of Alumis stock. The stock was sold at an average price of $10.55, for a total transaction of $1,014,182.05.
- On Friday, September 4th, Srinivas Akkaraju purchased 440,140 shares of Alumis stock. The stock was bought at an average cost of $11.17 per share, for a total transaction of $4,916,363.80.
Alumis Stock Down 7.4%
Shares of NASDAQ ALMS traded down $0.78 during trading on Wednesday, reaching $9.80. The company had a trading volume of 3,808,867 shares, compared to its average volume of 3,294,204. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The business’s 50-day moving average is $24.32 and its 200 day moving average is $24.24. The stock has a market cap of $1.27 billion, a PE ratio of -2.54 and a beta of -0.81.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday. Robert W. Baird set a $27.00 price objective on Alumis in a research report on Tuesday, September 1st. Morgan Stanley dropped their target price on Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Wells Fargo & Company cut their price target on Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, September 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.27.
Get Our Latest Analysis on ALMS
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Ieq Capital LLC raised its stake in Alumis by 4.1% during the 4th quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after acquiring an additional 690 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Alumis during the 2nd quarter valued at $33,000. Strs Ohio boosted its holdings in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares during the period. ProShare Advisors LLC increased its stake in Alumis by 12.4% in the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock worth $143,000 after buying an additional 1,618 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Alumis in the 1st quarter worth $42,000.
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.
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