Alumis Inc. (NASDAQ:ALMS – Get Free Report) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $9.80, but opened at $10.55. Alumis shares last traded at $10.0110, with a volume of 789,026 shares.
Specifically, Director Srinivas Akkaraju bought 546,581 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average price of $10.63 per share, for a total transaction of $5,810,156.03. Following the completion of the transaction, the director directly owned 4,937,026 shares in the company, valued at approximately $52,480,586.38. The trade was a 12.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Srinivas Akkaraju bought 440,140 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was bought at an average cost of $11.17 per share, with a total value of $4,916,363.80. Following the acquisition, the director directly owned 4,711,801 shares of the company’s stock, valued at approximately $52,630,817.17. The trade was a 10.30% increase in their position. The SEC filing for this purchase provides additional information.
Analyst Ratings Changes
ALMS has been the topic of several research reports. Chardan Capital lifted their price target on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Robert W. Baird set a $27.00 price objective on shares of Alumis in a research note on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Morgan Stanley decreased their target price on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.27.
Alumis Stock Performance
The business’s fifty day moving average is $24.32 and its 200-day moving average is $24.24. The firm has a market cap of $1.29 billion, a P/E ratio of -2.58 and a beta of -0.81.
Alumis (NASDAQ:ALMS – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.The business had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. Analysts predict that Alumis Inc. will post -2.95 EPS for the current fiscal year.
Hedge Funds Weigh In On Alumis
A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Alumis in the second quarter valued at $33,000. KBC Group NV acquired a new position in Alumis during the 1st quarter worth about $42,000. Strs Ohio lifted its holdings in Alumis by 300.0% during 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. State of Wyoming bought a new stake in shares of Alumis in the 1st quarter valued at about $57,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Alumis by 600.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after buying an additional 2,684 shares during the last quarter.
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.
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