Alumis’ (ALMS) “Buy” Rating Reiterated at HC Wainwright

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $19.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 289.34% from the stock’s previous close.

A number of other research analysts also recently issued reports on ALMS. Oppenheimer began coverage on Alumis in a report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.57.

Alumis Price Performance

Shares of ALMS opened at $4.88 on Monday. Alumis has a twelve month low of $4.36 and a twelve month high of $13.53. The firm has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $9.12.

Institutional Inflows and Outflows

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

Alumis Company Profile

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.