Robert W. Baird Initiates Coverage on Alumis (NASDAQ:ALMS)

Analysts at Robert W. Baird started coverage on shares of Alumis (NASDAQ:ALMS) in a report released on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 121.04% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Leerink Partners started 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. HC Wainwright initiated coverage on shares of Alumis in a research report on Thursday, October 17th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $27.50.

Alumis Stock Performance

ALMS opened at $11.31 on Thursday. The stock has a 50-day moving average price of $11.48. Alumis has a twelve month low of $9.54 and a twelve month high of $13.53.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.57) by ($21.53). Analysts expect that Alumis will post -8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALMS. Maven Securities LTD acquired a new stake in shares of Alumis in the 2nd quarter valued at approximately $332,000. Millennium Management LLC acquired a new stake in shares of Alumis in the 2nd quarter valued at approximately $3,376,000. Towerview LLC acquired a new stake in shares of Alumis in the 2nd quarter valued at approximately $4,123,000. Ally Bridge Group NY LLC acquired a new stake in shares of Alumis in the 2nd quarter valued at approximately $8,229,000. Finally, Yu Fan acquired a new stake in shares of Alumis in the 2nd 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.