HC Wainwright Has Positive Outlook of Alumis FY2024 Earnings

Alumis Inc. (NASDAQ:ALMS) – Research analysts at HC Wainwright lifted their FY2024 earnings estimates for Alumis in a research report issued on Thursday, November 14th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($9.75) per share for the year, up from their prior forecast of ($11.42). HC Wainwright currently has a “Buy” rating and a $26.00 target price on the stock. The consensus estimate for Alumis’ current full-year earnings is ($7.98) per share. HC Wainwright also issued estimates for Alumis’ Q4 2024 earnings at ($1.39) EPS, Q1 2025 earnings at ($1.40) EPS, Q2 2025 earnings at ($1.41) EPS, Q3 2025 earnings at ($1.43) EPS, Q4 2025 earnings at ($1.45) EPS and FY2025 earnings at ($5.68) EPS.

A number of other brokerages have also issued reports on ALMS. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Guggenheim started coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Thursday. Morgan Stanley began coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price on the stock. Finally, Robert W. Baird initiated coverage on shares of Alumis in a research report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.83.

Alumis Stock Down 6.0 %

Shares of Alumis stock opened at $8.85 on Monday. The company has a 50-day simple moving average of $11.22. Alumis has a twelve month low of $8.23 and a twelve month high of $13.53.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SR One Capital Management LP purchased a new position in shares of Alumis during the 2nd quarter worth approximately $26,067,000. Towerview LLC boosted its position in shares of Alumis by 22.6% in the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock worth $4,058,000 after acquiring an additional 70,000 shares during the last quarter. Millennium Management LLC acquired a new position in Alumis during the second quarter worth approximately $3,376,000. Maven Securities LTD purchased a new stake in Alumis during the second quarter worth approximately $332,000. Finally, Yu Fan acquired a new stake in shares of Alumis in the second quarter valued at about $10,502,000.

About Alumis

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.