Procore signs multi-year strategic collaboration agreement with AWS
Alumis Inc. (NASDAQ:ALMS) director Srinivas Akkaraju recently increased his stake in the company through several transactions, a notable move given the stock’s 65% decline over the past six months. According to a filing with the Securities and Exchange Commission, Akkaraju acquired a total of 320,290 shares of Alumis common stock in three separate transactions. The purchases were made on May 2 and May 5, 2025, at prices ranging from $4.55 to $5.27 per share, with the current stock price at $4.36. InvestingPro analysis suggests the stock is slightly undervalued, while analyst targets range from $14 to $29.
The first transaction involved the purchase of 159,920 shares at a weighted average price of $4.55. The second transaction, conducted on May 5, added another 138,368 shares at a weighted average price of $4.58. Finally, Akkaraju acquired an additional 22,002 shares at a weighted average price of $5.27. These transactions collectively amount to an investment of approximately $1.48 million in the $239 million market cap company. Track insider transactions and access 8 additional key insights about ALMS with InvestingPro.
Following these acquisitions, Akkaraju, through Samsara BioCapital, L.P., holds a total of 3,586,788 shares of Alumis. Samsara BioCapital, L.P. is managed by Samsara BioCapital GP, LLC, where Akkaraju serves as the managing member, sharing voting and investment authority over the shares. While the company maintains a strong current ratio of 6.01 and holds more cash than debt, InvestingPro data indicates an overall weak financial health score.
In other recent news, Alumis Inc. has announced an amended merger agreement with Acelyrin, Inc., which will see Acelyrin stockholders receiving 0.4814 shares of Alumis common stock for each share they hold. This adjustment increases Acelyrin’s ownership in the combined company to approximately 48%, while Alumis stockholders will own about 52%. The merger, unanimously supported by both companies’ boards, is expected to be finalized in the second quarter of 2025, pending stockholder approval. Additionally, H.C. Wainwright has adjusted its price target for Alumis to $14 from $15, maintaining a Buy rating on the stock, following the revised merger terms. In another development, Alumis has entered into a collaboration with Kaken Pharmaceutical (TADAWUL:2070) for the development and commercialization of the TYK2 inhibitor, ESK-001, in Japan. This agreement could bring Alumis up to $180 million in combined upfront, milestone, and royalty payments. Under the terms, Kaken will handle the clinical development and commercialization in Japan, while Alumis retains rights elsewhere. This partnership aims to leverage Kaken’s expertise in dermatology to advance ESK-001, which is currently in Phase 3 trials for plaque psoriasis.
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