Alumis Sees Unusually Large Options Volume (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 10,150 put options on the stock. This represents an increase of 477% compared to the typical daily volume of 1,758 put options.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALMS. Oppenheimer lowered their target price 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. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a research note on Thursday, March 20th. Finally, HC Wainwright reissued a "buy" rating and set a $14.00 price objective on shares of Alumis in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $24.86.

Alumis Stock Performance

Shares of Alumis stock traded down $0.06 during midday trading on Thursday, hitting $3.35. The company had a trading volume of 742,115 shares, compared to its average volume of 392,427. Alumis has a 52-week low of $3.18 and a 52-week high of $13.53. The company has a 50 day moving average of $5.42 and a 200 day moving average of $6.36.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its quarterly 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). On average, equities research analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In other news, Director Alan Colowick acquired 16,104 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were acquired at an average cost of $6.97 per share, for a total transaction of $112,244.88. Following the purchase, the director now owns 16,104 shares of the company's stock, valued at approximately $112,244.88. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 25,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were acquired at an average cost of $4.62 per share, for a total transaction of $115,500.00. Following the completion of the acquisition, the insider now owns 4,227,670 shares of the company's stock, valued at approximately $19,531,835.40. The trade was a 0.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 397,044 shares of company stock worth $1,891,895 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALMS. Corebridge Financial Inc. increased its holdings in Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock worth $65,000 after buying an additional 3,693 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock worth $69,000 after acquiring an additional 3,823 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 last quarter. China Universal Asset Management Co. Ltd. bought a new position in Alumis during the fourth quarter valued at approximately $79,000. Finally, Rhumbline Advisers lifted its position in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock valued at $102,000 after purchasing an additional 2,949 shares during the period.

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.