Alumis (NASDAQ:ALMS) Shares Gap Down to $12.54

Alumis Inc. (NASDAQ:ALMS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.54, but opened at $12.25. Alumis shares last traded at $12.40, with a volume of 2,121 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. SVB Leerink assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target on the stock. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price target on the stock. Guggenheim assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $13.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.50.

Alumis Trading Down 0.5 %

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALMS. Towerview LLC acquired a new position in Alumis in the second quarter valued at about $4,123,000. SR One Capital Management LP acquired a new position in Alumis in the second quarter valued at about $26,067,000. Ally Bridge Group NY LLC acquired a new position in Alumis in the second quarter valued at about $8,229,000. Yu Fan acquired a new position in Alumis in the second quarter valued at about $10,502,000. Finally, Millennium Management LLC acquired a new position in Alumis in the second quarter valued at about $3,376,000.

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.