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

Shares of Alumis Inc. (NASDAQ:ALMS) reached a new 52-week low on Monday . The stock traded as low as $10.37 and last traded at $10.97, with a volume of 91804 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

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

Alumis Price Performance

The stock has a 50 day moving average of $12.25.

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

Hedge Funds Weigh In On Alumis

Several hedge funds have recently made changes to their positions in the business. Maven Securities LTD bought a new position in Alumis in the 2nd quarter worth $332,000. Millennium Management LLC purchased a new stake in Alumis in the second quarter worth about $3,376,000. Towerview LLC purchased a new stake in Alumis in the second quarter worth about $4,123,000. Ally Bridge Group NY LLC purchased a new position in shares of Alumis during the 2nd quarter worth approximately $8,229,000. Finally, Yu Fan bought a new stake in shares of Alumis during the second quarter valued at approximately $10,502,000.

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.