Alumis (NASDAQ:ALMS) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird began coverage on shares of Alumis (NASDAQ:ALMS) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 122.62% from the stock’s previous close.

Several other research analysts have also commented on ALMS. Leerink Partners initiated coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective for the company. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Guggenheim began coverage on Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley initiated coverage on Alumis in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, HC Wainwright initiated coverage on Alumis in a report on Thursday, October 17th. They set a “buy” rating and a $30.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $27.50.

Alumis Stock Performance

Shares of ALMS stock opened at $11.23 on Thursday. Alumis has a 12 month low of $9.54 and a 12 month high of $13.53. The stock has a fifty day simple moving average of $11.54.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.57) by ($21.53). Analysts anticipate that Alumis will post -6.86 earnings per share for the current fiscal year.

Institutional Trading of Alumis

Hedge funds have recently modified their holdings of the stock. Maven Securities LTD purchased a new position in Alumis during the second quarter worth approximately $332,000. Millennium Management LLC acquired a new stake in shares of Alumis in the second quarter valued at approximately $3,376,000. Towerview LLC acquired a new stake in shares of Alumis in the second quarter valued at approximately $4,123,000. Ally Bridge Group NY LLC acquired a new stake in shares of Alumis in the second quarter valued at approximately $8,229,000. Finally, Yu Fan acquired a new stake in shares of Alumis in the second quarter valued at approximately $10,502,000.

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.