Alumis Inc. (NASDAQ:ALMS – Get Free Report) Director Srinivas Akkaraju acquired 440,140 shares of Alumis stock in a transaction dated Friday, September 4th. The shares were bought at an average cost of $11.17 per share, for a total transaction of $4,916,363.80. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $10.55, for a total value of $1,014,182.05.
- On Tuesday, September 8th, Srinivas Akkaraju bought 546,581 shares of Alumis stock. The stock was purchased at an average price of $10.63 per share, for a total transaction of $5,810,156.03.
Alumis Stock Performance
Shares of Alumis stock opened at $9.18 on Friday. Alumis Inc. has a 52-week low of $3.76 and a 52-week high of $31.35. The company’s 50 day moving average price is $23.64 and its 200-day moving average price is $24.00. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.38 and a beta of -0.81.
Analysts Set New Price Targets
Several research firms recently issued reports on ALMS. Morgan Stanley cut their target price on Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Guggenheim cut Alumis from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. HC Wainwright upgraded Alumis from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, September 2nd. Citigroup reissued an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.27.
Check Out Our Latest Research Report on ALMS
Hedge Funds Weigh In On Alumis
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings 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 buying an additional 4,894 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Alumis during the 2nd quarter worth approximately $33,000. New York State Common Retirement Fund raised its position 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 worth $35,000 after acquiring an additional 7,467 shares in the last quarter. KBC Group NV bought a new position in shares of Alumis in the 1st quarter worth approximately $42,000. Finally, Strs Ohio lifted its stake in shares of Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the period.
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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