HC Wainwright Lowers Alumis (NASDAQ:ALMS) Price Target to $26.00

Alumis (NASDAQ:ALMS) had its price target decreased by analysts at HC Wainwright from $30.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 193.79% from the company’s current price.

A number of other brokerages have also issued reports on ALMS. Leerink Partners initiated coverage on Alumis in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target for the company. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird started coverage on shares of Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Morgan Stanley started 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. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alumis has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Trading Down 6.0 %

Shares of NASDAQ:ALMS opened at $8.85 on Thursday. The business has a 50 day simple moving average of $11.29. Alumis has a twelve month low of $8.23 and a twelve month high of $13.53.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data 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). As a group, analysts expect that Alumis will post -8 EPS for the current fiscal year.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently made changes to their positions in ALMS. BNP Paribas Financial Markets purchased a new stake in shares of Alumis in the third quarter valued at $27,000. MetLife Investment Management LLC bought a new position in shares of Alumis in the 3rd quarter valued at approximately $89,000. Barclays PLC acquired a new stake in shares of Alumis in the third quarter worth $197,000. Maven Securities LTD bought a new stake in Alumis in the 2nd quarter valued at $332,000. Finally, State Street Corp acquired a new position in shares of Alumis in the third quarter valued at $866,000.

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.