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

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock, down from their previous target price of $19.00. HC Wainwright’s target price would indicate a potential upside of 300.00% from the stock’s previous close.

Separately, Oppenheimer started coverage on Alumis in a research note on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target on the stock. Seven 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 company presently has a consensus rating of “Buy” and an average price target of $26.00.

Alumis Stock Performance

Shares of ALMS stock opened at $3.75 on Thursday. The stock’s fifty day moving average is $5.69 and its 200-day moving average is $8.59. Alumis has a 52 week low of $3.18 and a 52 week high of $13.53.

Institutional Investors Weigh In On Alumis

Several large investors have recently modified their holdings of the business. Tang Capital Management LLC increased its holdings in shares of Alumis by 40.6% in the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company’s stock worth $4,716,000 after acquiring an additional 173,406 shares in the last quarter. Foresite Capital Management V LLC grew its stake in Alumis by 3.5% in the fourth quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company’s stock valued at $45,426,000 after purchasing an additional 194,459 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Alumis by 1,257.0% in the fourth quarter. BNP Paribas Financial Markets now owns 34,835 shares of the company’s stock valued at $274,000 after purchasing an additional 32,268 shares in the last quarter. Ally Bridge Group NY LLC lifted its position in shares of Alumis by 6.4% in the fourth quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company’s stock valued at $3,500,000 after buying an additional 26,843 shares during the last quarter. Finally, Foresite Capital Management VI LLC acquired a new stake in shares of Alumis in the fourth quarter valued at approximately $33,033,000.

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.