Alumis Inc. (NASDAQ:ALMS) Receives $27.50 Average PT from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS) have been given an average recommendation of “Buy” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.00.

A number of equities research analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company. HC Wainwright began coverage on shares of Alumis in a research report on Thursday, October 17th. They issued a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Monday, August 19th. Leerink Partners started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Guggenheim began coverage on Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SR One Capital Management LP purchased a new position in Alumis in the second quarter worth about $26,067,000. Millennium Management LLC purchased a new position in Alumis in the 2nd quarter worth about $3,376,000. Maven Securities LTD purchased a new position in shares of Alumis during the second quarter worth approximately $332,000. Yu Fan bought a new position in Alumis in the second quarter worth approximately $10,502,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Alumis in the 2nd quarter worth $8,229,000.

Alumis Stock Performance

Alumis stock opened at $12.04 on Thursday. Alumis has a one year low of $9.54 and a one year high of $13.53. The firm’s fifty day simple moving average is $11.65.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). As a group, equities analysts anticipate that Alumis will post -6.86 EPS for the current fiscal year.

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.