HC Wainwright Begins Coverage on Alumis (NASDAQ:ALMS)

Equities research analysts at HC Wainwright began coverage on shares of Alumis (NASDAQ:ALMS) in a research note issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 149.38% from the stock’s previous close.

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

Alumis Stock Performance

Shares of ALMS stock opened at $12.03 on Thursday. The company’s 50 day simple moving average is $11.64. Alumis has a 12 month low of $9.54 and a 12 month high of $13.53.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Maven Securities LTD bought a new stake in Alumis during the second quarter worth about $332,000. Millennium Management LLC purchased a new position in shares of Alumis in the second quarter worth $3,376,000. Towerview LLC bought a new stake in Alumis during the 2nd quarter valued at $4,123,000. Ally Bridge Group NY LLC purchased a new stake in Alumis during the 2nd quarter valued at $8,229,000. Finally, Yu Fan bought a new stake in Alumis in the 2nd quarter worth $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.