Alumis Inc. (NASDAQ:ALMS) Receives Average Rating of “Buy” from Brokerages

Alumis Inc. (NASDAQ:ALMS) has earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.57.

Several research firms have recently issued reports on ALMS. Baird R W upgraded Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Oppenheimer began coverage on Alumis in a research note on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target for the company. Robert W. Baird began coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 target price for the company. HC Wainwright decreased their target price on Alumis from $26.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th.

Institutional Trading of Alumis

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Alumis in the 3rd quarter worth approximately $27,000. MetLife Investment Management LLC bought a new stake in shares of Alumis in the 3rd quarter worth approximately $89,000. Wells Fargo & Company MN lifted its position in shares of Alumis by 77.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock worth $69,000 after acquiring an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alumis in the 4th quarter worth approximately $79,000. Finally, Marshall Wace LLP bought a new stake in shares of Alumis in the 4th quarter worth approximately $108,000.

Alumis Trading Down 7.4 %

ALMS opened at $4.85 on Wednesday. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $9.62. Alumis has a 52-week low of $4.74 and a 52-week high of $13.53.

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.