HC Wainwright Reaffirms Buy Rating for Alumis (NASDAQ:ALMS)

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 Thursday,Benzinga reports. They presently have a $15.00 target price on the stock, down from their previous target price of $19.00. HC Wainwright’s price objective would suggest a potential upside of 300.00% from the stock’s previous close.

Separately, Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alumis has a consensus rating of “Buy” and an average price target of $26.00.

Alumis Stock Up 5.0 %

Shares of NASDAQ ALMS opened at $3.75 on Thursday. Alumis has a fifty-two week low of $3.18 and a fifty-two week high of $13.53. The business has a fifty day moving average price of $5.69 and a two-hundred day moving average price of $8.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Foresite Capital Management V LLC lifted its stake in shares of Alumis by 3.5% in the 4th quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company’s stock valued at $45,426,000 after purchasing an additional 194,459 shares during the period. Foresite Capital Management VI LLC bought a new stake in Alumis during the 4th quarter worth approximately $33,033,000. Samsara BioCapital LLC bought a new stake in Alumis during the 3rd quarter worth approximately $34,886,000. Tang Capital Management LLC increased its position in shares of Alumis by 40.6% during the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company’s stock valued at $4,716,000 after acquiring an additional 173,406 shares during the last quarter. Finally, Ally Bridge Group NY LLC increased its position in shares of Alumis by 6.4% during the fourth quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company’s stock valued at $3,500,000 after acquiring an additional 26,843 shares during the last quarter.

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.