Srinivas Akkaraju, a director at Alumis Inc., made significant stock purchases on November 18, 2023. He acquired 102,652 shares at an average cost of $6.05 each, amounting to a total investment of $621,044.60. Following this transaction, Akkaraju’s total ownership in the company rose to 379,745 shares, valued at approximately $2,297,457.25, representing a substantial 37.05% increase in his position.
This acquisition was formally disclosed in a filing with the Securities and Exchange Commission. Akkaraju’s recent trading activity also includes the purchase of 137,772 shares on November 19 at an average price of $6.56 per share for a total of $903,784.32. Earlier, on November 17, he bought 914 shares at $5.51 per share and on November 13, 276,179 shares at an average price of $5.25, amounting to $1,449,939.75.
Alumis Stock Performance and Analyst Ratings
As of Friday, shares of Alumis (NASDAQ: ALMS) opened at $6.92. The stock has demonstrated notable fluctuations, with a 50-day moving average of $4.66 and a 200-day moving average of $4.25. Over the past year, the stock has reached a low of $2.76 and a high of $10.49. Alumis Inc. currently holds a market capitalization of $720.10 million and has a price-to-earnings ratio of -1.71.
Recent research reports offer varied perspectives on the stock. On November 15, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating. Conversely, Wells Fargo & Company initiated coverage with an “overweight” rating and a price target of $17.00 on July 25. HC Wainwright maintained a “buy” rating with a price objective of $14.00 on August 14, while Weiss Ratings restated a “sell (d-)” rating on November 13. In addition, Morgan Stanley reduced its target price from $23.00 to $22.00, also maintaining an “overweight” rating. Overall, six analysts have rated the stock as a Buy, while one has assigned it a Sell rating, resulting in a consensus rating of “Moderate Buy” and a price target of $19.20.
Institutional Investment Trends
Several institutional investors have recently adjusted their stakes in Alumis. Samsara Biocapital LLC increased its position by 47.0% in the second quarter, now holding 4,801,370 shares valued at approximately $14.4 million. Similarly, Foresite Capital Management VI LLC raised its stake by 1.1%, owning 4,247,670 shares worth about $12.74 million after acquiring an additional 45,000 shares.
Other notable changes include Vanguard Group Inc., which increased its holdings by 18.4% in the third quarter, now owning 4,029,615 shares valued at approximately $16.08 million. Trium Capital LLP also expanded its holdings by 17.9% to reach 3,122,111 shares valued at around $12.46 million. Furthermore, Orbimed Advisors LLC entered a new position in the second quarter valued at about $5.78 million.
Alumis Inc. is a clinical-stage biopharmaceutical company dedicated to improving patient lives through targeted therapies aimed at replacing broad immunosuppression. The company’s name reflects its mission to illuminate immunology, drawing inspiration from the French word “allumer,” meaning to illuminate, and the Latin word “immunis,” relating to the immune system. With a focus on developing two Tyrosine Kinase 2 (TYK2) inhibitors, Alumis continues to advance its innovative approaches in the healthcare sector.
