Traders Purchase Large Volume of Call Options on Alumis (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors bought 5,003 call options on the stock. This is an increase of 147% compared to the average daily volume of 2,026 call options.

Insider Activity at Alumis

In related news, Director Alan Colowick acquired 16,104 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average cost of $6.97 per share, with a total value of $112,244.88. Following the completion of the acquisition, the director now directly owns 16,104 shares of the company's stock, valued at $112,244.88. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Babler bought 15,650 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was purchased at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the completion of the transaction, the chief executive officer now owns 106,454 shares in the company, valued at $685,563.76. This trade represents a 17.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Alumis

Several institutional investors have recently made changes to their positions in ALMS. Wells Fargo & Company MN grew its position in Alumis by 77.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after buying an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Alumis during the 4th quarter worth about $79,000. Rhumbline Advisers grew its position in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock valued at $102,000 after acquiring an additional 2,949 shares during the period. Marshall Wace LLP acquired a new stake in shares of Alumis during the 4th quarter valued at about $108,000. Finally, XTX Topco Ltd purchased a new position in shares of Alumis in the 4th quarter valued at about $129,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ALMS shares. Oppenheimer began coverage on Alumis in a report on Thursday, January 30th. They issued an "outperform" rating and a $32.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a report on Thursday, March 20th. Finally, HC Wainwright decreased their price objective on shares of Alumis from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alumis has a consensus rating of "Buy" and an average price target of $25.86.

Alumis Stock Down 0.7 %

ALMS stock traded down $0.03 during trading on Friday, hitting $4.28. 181,460 shares of the company traded hands, compared to its average volume of 317,293. Alumis has a 1 year low of $3.18 and a 1 year high of $13.53. The stock's 50-day simple moving average is $5.50 and its 200 day simple moving average is $7.68.

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.