Alumis’ (ALMS) Buy Rating Reaffirmed at HC Wainwright

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 207.69% from the company’s previous close.

Other research analysts have also issued research reports about the company. Baird R W upgraded Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Finally, Robert W. Baird began coverage on Alumis in a report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.83.

Alumis Price Performance

ALMS stock opened at $8.45 on Monday. Alumis has a 52 week low of $7.46 and a 52 week high of $13.53. The company’s fifty day simple moving average is $9.48.

Institutional Trading of Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Alumis in the third quarter worth about $27,000. MetLife Investment Management LLC purchased a new stake in Alumis in the 3rd quarter valued at about $89,000. JPMorgan Chase & Co. bought a new position in Alumis in the 3rd quarter worth about $191,000. Barclays PLC purchased a new position in shares of Alumis during the third quarter worth approximately $197,000. Finally, Maven Securities LTD bought a new stake in shares of Alumis during the second quarter valued at approximately $332,000.

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.