Alumis (NASDAQ:ALMS) Stock Price Up 5.3%

Alumis Inc. (NASDAQ:ALMS) shares rose 5.3% on Wednesday . The company traded as high as $11.17 and last traded at $11.17. Approximately 19,067 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 140,408 shares. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price target for the company. Leerink Partners assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Finally, Guggenheim started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alumis presently has an average rating of “Buy” and an average price target of $27.50.

Alumis Price Performance

The stock has a 50 day moving average price of $12.27.

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). As a group, sell-side analysts anticipate that Alumis Inc. will post -6.86 earnings per share for the current year.

Institutional Inflows and Outflows

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