Alumis Inc.’s (NASDAQ:ALMS) Quiet Period Will Expire Tomorrow

Alumis’ (NASDAQ:ALMS) quiet period is set to end on Wednesday, August 7th. Alumis had issued 13,125,000 shares in its IPO on June 28th. The total size of the offering was $210,000,000 based on an initial share price of $16.00. During Alumis’ quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALMS shares. Cantor Fitzgerald assumed coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $13.00 price target for the company. SVB Leerink assumed coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective on the stock. Guggenheim started coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 target price for the company. Morgan Stanley assumed coverage on Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Leerink Partnrs raised Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.50.

Alumis Stock Performance

NASDAQ:ALMS opened at $11.86 on Tuesday. Alumis has a twelve month low of $10.45 and a twelve month high of $13.53.

Hedge Funds Weigh In On Alumis

An institutional investor recently bought a new position in Alumis stock. Towerview LLC acquired a new position in Alumis Inc. (NASDAQ:ALMS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 310,000 shares of the company’s stock, valued at approximately $4,123,000. Alumis comprises 2.7% of Towerview LLC’s investment portfolio, making the stock its 8th biggest holding. Towerview LLC owned about 0.66% of Alumis as of its most recent SEC filing.

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.