Alumis Inc. (NASDAQ:ALMS - Get Free Report) Director Srinivas Akkaraju acquired 440,140 shares of Alumis stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average price of $11.17 per share, with a total value of $4,916,363.80. Following the transaction, the director owned 4,711,801 shares of the company's stock, valued at $52,630,817.17. The trade was a 10.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Tuesday, September 8th, Srinivas Akkaraju bought 546,581 shares of Alumis stock. The shares were acquired at an average price of $10.63 per share, with a total value of $5,810,156.03.
Alumis Trading Down 7.4%
Shares of ALMS stock opened at $9.80 on Thursday. Alumis Inc. has a 12 month low of $3.76 and a 12 month high of $31.35. The stock has a market cap of $1.27 billion, a P/E ratio of -2.54 and a beta of -0.81. The company has a 50 day simple moving average of $24.32 and a two-hundred day simple moving average of $24.24.
Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The business had revenue of $1.66 million for the quarter, compared to analysts' expectations of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. As a group, equities analysts forecast that Alumis Inc. will post -2.95 earnings per share for the current year.
Institutional Investors Weigh In On Alumis
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company's stock valued at $26,000 after purchasing an additional 4,894 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Alumis in the second quarter valued at about $33,000. New York State Common Retirement Fund raised its holdings in Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company's stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. KBC Group NV purchased a new stake in shares of Alumis during the first quarter valued at about $42,000. Finally, Strs Ohio lifted its position in Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company's stock valued at $44,000 after acquiring an additional 1,500 shares during the last quarter.
Analysts Set New Price Targets
Several brokerages have recently commented on ALMS. Weiss Ratings restated a "sell (d-)" rating on shares of Alumis in a research report on Tuesday, July 7th. HC Wainwright raised shares of Alumis from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $25.00 to $15.00 in a research note on Wednesday, September 2nd. Wall Street Zen cut Alumis from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Robert W. Baird set a $27.00 price objective on Alumis in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company lowered their price target on Alumis from $51.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.27.
Read Our Latest Analysis on ALMS
About Alumis
(
Get Free Report)
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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