Alumis (NASDAQ:ALMS) Now Covered by Robert W. Baird

Robert W. Baird initiated coverage on shares of Alumis (NASDAQ:ALMS) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley started coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective for the company. Guggenheim began coverage on Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Monday, August 19th. Finally, Leerink Partners assumed coverage on Alumis in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $27.50.

Alumis Stock Performance

Shares of Alumis stock opened at $11.31 on Thursday. Alumis has a twelve month low of $9.54 and a twelve month high of $13.53. The company has a 50-day moving average of $11.48.

Alumis (NASDAQ:ALMS) last released its earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($21.53). Sell-side analysts forecast that Alumis will post -8 EPS for the current year.

Hedge Funds Weigh In On Alumis

A number of hedge funds have recently modified their holdings of the business. Maven Securities LTD purchased a new position in Alumis during the second quarter worth about $332,000. Millennium Management LLC purchased a new position in shares of Alumis during the 2nd quarter worth approximately $3,376,000. Towerview LLC acquired a new stake in Alumis in the 2nd quarter valued at approximately $4,123,000. Ally Bridge Group NY LLC purchased a new position in shares of Alumis during the second quarter worth $8,229,000. Finally, Yu Fan acquired a new stake in shares of Alumis in the second quarter valued at $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.