Interactive Brokers shares jump as it secures spot in S&P 500
James B. Tananbaum, a director at Alumis Inc. (NASDAQ:ALMS), has made significant acquisitions of the company’s common stock, according to a recent SEC filing. The purchases come as the stock trades near $4.35, down about 63% over the past six months, according to InvestingPro data. On May 2, Tananbaum purchased 25,000 shares at a price of $4.62 each, followed by an additional acquisition of 20,000 shares on May 6 at $4.34 per share. These transactions bring the total value of his purchases to approximately $202,300. The insider buying occurs as analysts maintain a strong buy consensus with price targets ranging from $14 to $29, suggesting significant upside potential. Following these acquisitions, Tananbaum’s indirect ownership, through various funds and entities, now includes a substantial number of shares in Alumis, which maintains a strong liquidity position with its cash holdings exceeding debt levels. Get more detailed insights and 8 additional key metrics with InvestingPro.
In other recent news, Alumis Inc. has announced a revised merger agreement with Acelyrin, which adjusts the share exchange ratio to increase Acelyrin stockholders’ ownership in the combined company to approximately 48%, while Alumis stockholders will own about 52%. The merger, anticipated to close in the second quarter of 2025, aims to create a leading biopharmaceutical company, with both boards unanimously recommending the transaction. Additionally, Alumis entered a strategic partnership with Kaken Pharmaceutical (TADAWUL:2070) for the development of ESK-001 in Japan, which includes $40 million in upfront and co-development payments and potential milestone payments up to $140 million. This collaboration is expected to leverage Kaken’s dermatology expertise to advance ESK-001’s market presence in Japan. H.C. Wainwright analysts recently adjusted their price target for Alumis to $14 from $15, maintaining a Buy rating, following the merger amendment. The analysts emphasized the strategic value of the merger in enhancing shareholder value amid challenging economic conditions. Furthermore, the partnership with Kaken could significantly bolster Alumis’s financial outlook, as it aligns with Kaken’s focus on novel dermatology treatments.
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