Alumis (NASDAQ:ALMS) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright started coverage on shares of Alumis (NASDAQ:ALMS) in a research report report published on Thursday, Marketbeat reports. The firm issued a buy rating and a $30.00 price target on the stock.

Several other brokerages also recently weighed in on ALMS. Guggenheim started coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective on the stock. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Leerink Partners began coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $28.00.

Alumis Trading Up 8.2 %

NASDAQ:ALMS opened at $12.03 on Thursday. The company has a 50-day moving average price of $11.64. Alumis has a 1-year low of $9.54 and a 1-year high of $13.53.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results 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). Equities analysts expect that Alumis will post -6.86 EPS for the current fiscal year.

Institutional Trading of Alumis

Large investors have recently bought and sold shares of the business. Maven Securities LTD purchased a new position in Alumis during the 2nd quarter worth $332,000. Millennium Management LLC purchased a new position in Alumis during the 2nd quarter worth $3,376,000. Towerview LLC purchased a new position in Alumis during the 2nd quarter worth $4,123,000. Ally Bridge Group NY LLC purchased a new position in Alumis during the 2nd quarter worth $8,229,000. Finally, Yu Fan purchased a new position in Alumis during the 2nd quarter worth $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.