Cantor Fitzgerald Reaffirms Overweight Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports.

Several other research firms also recently commented on ALMS. Oppenheimer started coverage on shares of Alumis in a research note on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $15.00 price target (down previously from $19.00) on shares of Alumis in a research note on Thursday. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.00.

Alumis Trading Up 5.0 %

Alumis stock opened at $3.75 on Thursday. Alumis has a fifty-two week low of $3.18 and a fifty-two week high of $13.53. The firm has a 50 day moving average price of $5.69 and a 200 day moving average price of $8.59.

Institutional Investors Weigh In On Alumis

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Alumis during the 3rd quarter worth $27,000. Wells Fargo & Company MN lifted its position in Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after acquiring an additional 3,823 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Alumis in the fourth quarter valued at $79,000. MetLife Investment Management LLC purchased a new stake in Alumis in the third quarter valued at $89,000. Finally, Marshall Wace LLP purchased a new stake in Alumis in the fourth quarter valued at $108,000.

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.