HC Wainwright Cuts Alumis (NASDAQ:ALMS) Price Target to $26.00

Alumis (NASDAQ:ALMS) had its price objective decreased by HC Wainwright from $30.00 to $26.00 in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on ALMS. Guggenheim initiated coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price objective for the company. Leerink Partnrs raised Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Leerink Partners assumed coverage on Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price target on the stock. Morgan Stanley assumed coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Baird R W upgraded Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Alumis presently has an average rating of “Buy” and an average price target of $26.83.

Alumis Stock Down 6.0 %

ALMS opened at $8.85 on Thursday. The company has a fifty day moving average price of $11.22. Alumis has a 1 year low of $8.23 and a 1 year high of $13.53.

Institutional Investors Weigh In On Alumis

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Alumis in the third quarter valued at approximately $27,000. MetLife Investment Management LLC purchased a new stake in shares of Alumis during the third quarter worth approximately $89,000. Barclays PLC acquired a new position in Alumis in the 3rd quarter valued at $197,000. Maven Securities LTD acquired a new position in Alumis in the 2nd quarter valued at $332,000. Finally, State Street Corp purchased a new position in Alumis in the 3rd quarter valued at $866,000.

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.