New York, Jan 14, 2026, 12:10 EST — Regular session
Alumis Inc shares jumped roughly 9% to $24.11 by midday Wednesday, after fluctuating between $22.00 and $24.16 earlier. The stock had closed at $22.11 previously, with around 2.0 million shares changing hands so far.
The move came after several insider disclosures. A Form 4 filing revealed director Srinivas Akkaraju purchased 588,235 shares at $17 each on Jan. 9, mostly via an investment fund. Another Form 4 showed director and 10% owner James B. Tananbaum acquired 411,764 shares at the same $17 price on Jan. 8 through Foresite-related funds. (SEC)
Why it matters now: those buys came in close to the pricing of Alumis’ recent stock offering. According to an earlier filing, the company sold 17.65 million shares at $17 apiece. The underwriters also fully exercised an option for an additional 2.65 million shares, pushing gross proceeds to roughly $345.1 million before fees.
Alumis caught traders’ attention after this month’s Phase 3 results for envudeucitinib, an oral TYK2 inhibitor designed to block an immune-signaling enzyme linked to inflammation. The company reported that about 65% of patients achieved PASI 90—a 90% improvement in psoriasis severity—while over 40% reached PASI 100, meaning complete clearance, by week 24 across two trials. “We believe envudeucitinib demonstrates the full promise of TYK2 inhibition,” said chief medical officer Dr. Jörn Drappa in the announcement.
On Jan. 6, Cantor analyst Eric Schmidt described the data as “stronger than expected,” calling it a “best-in-class” endorsement for the program. Reuters noted the drug could rival Bristol Myers Squibb’s Sotyktu, currently the only TYK2 inhibitor approved for psoriasis. CEO Martin Babler also mentioned interest from potential strategic partners. (Reuters)
Insider buying doesn’t alter the science, but it can shift the tape. In a biotech market bouncing from headline to headline, investors often take large purchases close to a deal price as a sign insiders believe the rerating has staying power.
But the situation works both ways. Alumis still faces the hurdle of regulatory approval and must win over prescribers. With the stock having surged sharply, there’s now less margin for any safety concerns or durability issues once more comprehensive data emerge.
The recent equity raise has increased the number of shares outstanding. While a larger share count can boost liquidity, it may also limit price rallies if supply consistently matches demand.
Traders now turn their attention to upcoming dates tied to a medical meeting data release and any fresh insider filings, as the stock finds its footing post-offering. Alumis has indicated it will share more Phase 3 details at the meeting and aims to file with the FDA in the latter half of 2026. Meanwhile, topline data from the lupus Phase 2b trial is expected in Q3 2026. (Nasdaq)
