Alumis (NASDAQ:ALMS) Shares Gap Down to $11.86

Alumis Inc. (NASDAQ:ALMS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.86, but opened at $11.59. Alumis shares last traded at $11.59, with a volume of 472 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALMS shares. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Leerink Partners assumed coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Guggenheim started coverage on Alumis in a report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 target price for the company. Finally, Morgan Stanley assumed coverage on Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alumis currently has a consensus rating of “Buy” and an average price target of $27.50.

Alumis Price Performance

The business’s fifty day moving average is $12.25.

Alumis (NASDAQ:ALMS) last announced its earnings results 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 expect that Alumis Inc. will post -6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALMS. Maven Securities LTD acquired a new stake in Alumis during the 2nd quarter worth approximately $332,000. Millennium Management LLC purchased a new position in Alumis in the second quarter valued at $3,376,000. Yu Fan acquired a new position in Alumis during the 2nd quarter worth $10,502,000. Ally Bridge Group NY LLC purchased a new stake in Alumis during the 2nd quarter worth about $8,229,000. Finally, SR One Capital Management LP acquired a new stake in Alumis in the 2nd quarter valued at about $26,067,000.

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.