Alumis (NASDAQ:ALMS) Shares Down 2.6%

Alumis Inc. (NASDAQ:ALMS) fell 2.6% during mid-day trading on Thursday . The stock traded as low as $10.93 and last traded at $11.05. 14,384 shares were traded during trading, a decline of 90% from the average session volume of 141,740 shares. The stock had previously closed at $11.34.

Analysts Set New Price Targets

ALMS has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Morgan Stanley initiated coverage on Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 target price on the stock. Leerink Partners began coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Finally, Leerink Partnrs raised Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $27.50.

Alumis Trading Up 0.9 %

The stock has a fifty day simple moving average of $12.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Towerview LLC bought a new stake in shares of Alumis during the second quarter valued at approximately $4,123,000. SR One Capital Management LP bought a new stake in Alumis in the 2nd quarter valued at $26,067,000. Ally Bridge Group NY LLC purchased a new stake in Alumis in the 2nd quarter worth $8,229,000. Yu Fan bought a new position in shares of Alumis during the 2nd quarter valued at about $10,502,000. Finally, Millennium Management LLC bought a new position in shares of Alumis during the 2nd quarter valued at 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.