Alumis (NASDAQ:ALMS) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright started coverage on shares of Alumis (NASDAQ:ALMS) in a research report released on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley assumed coverage on Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Guggenheim started coverage on Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target on the stock. Finally, Leerink Partners initiated coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $28.00.

Alumis Trading Down 0.6 %

NASDAQ ALMS opened at $11.12 on Thursday. Alumis has a twelve month low of $9.54 and a twelve month high of $13.53. The company has a 50-day simple moving average of $11.64.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($21.53). As a group, research analysts anticipate that Alumis will post -6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Maven Securities LTD bought a new position in Alumis in the 2nd quarter valued at $332,000. Millennium Management LLC bought a new position in Alumis in the second quarter valued at about $3,376,000. Towerview LLC bought a new position in Alumis in the second quarter valued at about $4,123,000. Ally Bridge Group NY LLC acquired a new stake in Alumis in the second quarter worth about $8,229,000. Finally, Yu Fan bought a new stake in Alumis during the 2nd quarter worth about $10,502,000.

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.