Alumis (NASDAQ:ALMS) Hits New 52-Week Low at $10.37

Alumis Inc. (NASDAQ:ALMS)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.37 and last traded at $10.97, with a volume of 91804 shares trading hands. The stock had previously closed at $11.59.

Wall Street Analyst Weigh In

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

Alumis Trading Up 6.9 %

The stock’s 50 day simple moving average is $12.25.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). On average, analysts predict that Alumis Inc. will post -6.86 EPS for the current fiscal year.

Institutional Trading of Alumis

A number of large investors have recently made changes to their positions in the business. Towerview LLC bought a new position in shares of Alumis during the 2nd quarter valued at approximately $4,123,000. SR One Capital Management LP bought a new stake in shares of Alumis in the 2nd quarter worth about $26,067,000. Ally Bridge Group NY LLC purchased a new position in shares of Alumis during the 2nd quarter worth about $8,229,000. Yu Fan purchased a new stake in Alumis in the 2nd quarter worth about $10,502,000. Finally, Millennium Management LLC bought a new stake in Alumis in the second quarter worth about $3,376,000.

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.