Alumis (NASDAQ:ALMS) Price Target Cut to $26.00 by Analysts at HC Wainwright

Alumis (NASDAQ:ALMS) had its target price decreased by analysts at HC Wainwright from $30.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 140.52% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Baird R W raised Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Morgan Stanley began coverage on Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price target for the company. Leerink Partners started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, Guggenheim began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 target price for the company. Six 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, Alumis currently has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Stock Performance

Shares of ALMS opened at $10.81 on Thursday. The firm has a 50-day simple moving average of $11.36. Alumis has a fifty-two week low of $9.54 and a fifty-two week high of $13.53.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($21.53). On average, sell-side analysts expect that Alumis will post -8 EPS for the current fiscal year.

Institutional Investors Weigh In On Alumis

A number of large investors have recently added to or reduced their stakes in the stock. SR One Capital Management LP bought a new position in Alumis during the second quarter worth $26,067,000. Yu Fan acquired a new stake in Alumis in the 2nd quarter worth $10,502,000. Ally Bridge Group NY LLC acquired a new stake in Alumis in the 2nd quarter worth $8,229,000. Towerview LLC increased its holdings in shares of Alumis by 22.6% during the 3rd quarter. Towerview LLC now owns 380,000 shares of the company’s stock worth $4,058,000 after purchasing an additional 70,000 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Alumis during the second quarter valued at about $3,376,000.

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.