Alumis (NASDAQ:ALMS) Coverage Initiated at Oppenheimer

Equities research analysts at Oppenheimer started coverage on shares of Alumis (NASDAQ:ALMS) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $32.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 390.05% from the company’s previous close.

Several other brokerages have also commented on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Alumis in a report on Monday, January 6th. Robert W. Baird initiated coverage on Alumis in a research report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $27.57.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $6.53 on Thursday. Alumis has a 12-month low of $6.29 and a 12-month high of $13.53. The stock’s 50-day moving average price is $8.22 and its two-hundred day moving average price is $10.49.

Institutional Investors Weigh In On Alumis

Large investors have recently modified their holdings of the stock. Samsara BioCapital LLC acquired a new position in Alumis in the 3rd quarter worth $34,886,000. Geode Capital Management LLC purchased a new stake in shares of Alumis during the third quarter worth about $3,266,000. Millennium Management LLC acquired a new position in shares of Alumis in the second quarter worth about $3,376,000. Charles Schwab Investment Management Inc. purchased a new position in Alumis in the third quarter valued at about $1,160,000. Finally, Stifel Financial Corp acquired a new stake in Alumis during the 3rd quarter valued at approximately $931,000.

Alumis Company Profile

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.