Brokerages Set Alumis Inc. (NASDAQ:ALMS) PT at $27.50

Alumis Inc. (NASDAQ:ALMS) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.83.

A number of brokerages recently issued reports on ALMS. Leerink Partners began coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target for the company. HC Wainwright decreased their price target on Alumis from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday. Baird R W raised Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Guggenheim initiated coverage on Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of ALMS. Samsara BioCapital LLC acquired a new position in Alumis in the 3rd quarter valued at approximately $34,886,000. SR One Capital Management LP bought a new stake in Alumis in the 2nd quarter valued at $26,067,000. Yu Fan acquired a new position in Alumis in the 2nd quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC acquired a new stake in shares of Alumis during the 2nd quarter valued at about $8,229,000. Finally, Towerview LLC acquired a new stake in Alumis in the 2nd quarter valued at $4,123,000.

Alumis Stock Performance

NASDAQ:ALMS opened at $8.85 on Monday. Alumis has a 12 month low of $8.23 and a 12 month high of $13.53. The firm has a 50-day moving average of $11.29.

Alumis (NASDAQ:ALMS) last issued 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). Equities research analysts anticipate that Alumis will post -8 EPS for the current fiscal year.

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.