Alumis (NASDAQ:ALMS) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Alumis (NASDAQ:ALMS) in a research note released on Monday,Benzinga reports. They currently have a $19.00 price target on the stock.

A number of other equities research analysts have also recently commented on ALMS. Oppenheimer initiated coverage on shares of Alumis in a report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Alumis currently has an average rating of “Buy” and a consensus price target of $26.57.

Alumis Stock Performance

NASDAQ ALMS opened at $4.54 on Monday. Alumis has a 52-week low of $4.36 and a 52-week high of $13.53. The company has a 50-day simple moving average of $6.65 and a 200 day simple moving average of $9.35.

Institutional Investors Weigh In On Alumis

Institutional investors have recently made changes to their positions in the stock. Foresite Capital Management V LLC grew its position in shares of 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. Foresite Capital Management VI LLC bought a new position in Alumis in the 4th quarter worth about $33,033,000. Samsara BioCapital LLC purchased a new position in Alumis during the 3rd quarter valued at about $34,886,000. Tang Capital Management LLC increased its position in shares of Alumis by 40.6% during the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company’s stock valued at $4,716,000 after buying an additional 173,406 shares during the period. Finally, Ally Bridge Group NY LLC lifted its holdings 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 worth $3,500,000 after buying an additional 26,843 shares in the last quarter.

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.