Traders Purchase High Volume of Put Options on Alumis (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 10,150 put options on the company. This is an increase of approximately 477% compared to the average volume of 1,758 put options.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALMS. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Wednesday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, March 20th. Finally, Oppenheimer cut their price target on shares of Alumis from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alumis currently has a consensus rating of “Buy” and an average target price of $24.86.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju bought 160,370 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $4.67 per share, with a total value of $748,927.90. Following the completion of the purchase, the director now owns 3,586,788 shares in the company, valued at $16,750,299.96. This represents a 4.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Foresite Labs, Llc bought 20,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $86,800.00. Following the purchase, the insider now owns 4,247,670 shares of the company’s stock, valued at approximately $18,434,887.80. The trade was a 0.47% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 397,044 shares of company stock valued at $1,891,895.

Hedge Funds Weigh In On Alumis

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares during the period. Jane Street Group LLC acquired a new position in shares of Alumis during the first quarter valued at about $111,000. Goldman Sachs Group Inc. raised its holdings in shares of Alumis by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after purchasing an additional 4,926 shares during the period. Finally, Corebridge Financial Inc. raised its holdings in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after purchasing an additional 3,693 shares during the period.

Alumis Stock Performance

ALMS stock opened at $3.41 on Thursday. Alumis has a 12-month low of $3.18 and a 12-month high of $13.53. The company’s fifty day simple moving average is $5.42 and its 200 day simple moving average is $6.36.

Alumis (NASDAQ:ALMS) last released its earnings results on Wednesday, May 14th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.47) by ($0.35). Sell-side analysts expect that Alumis will post -8.51 EPS for the current fiscal year.

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.