Alumis Inc.’s Quiet Period To End Tomorrow (NASDAQ:ALMS)

Alumis’ (NASDAQ:ALMS) quiet period is set to end on Wednesday, August 7th. Alumis had issued 13,125,000 shares in its public offering on June 28th. The total size of the offering was $210,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALMS shares. Guggenheim initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target on the stock. Morgan Stanley initiated coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price target for the company. Cantor Fitzgerald initiated coverage on Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $13.00 price objective for the company. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, SVB Leerink initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alumis currently has an average rating of “Buy” and a consensus target price of $27.50.

Alumis Stock Down 8.6 %

NASDAQ ALMS opened at $11.86 on Tuesday. Alumis has a 12 month low of $10.45 and a 12 month high of $13.53.

Hedge Funds Weigh In On Alumis

A hedge fund recently bought a new stake in Alumis stock. Towerview LLC acquired a new position in shares of Alumis Inc. (NASDAQ:ALMS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 310,000 shares of the company’s stock, valued at approximately $4,123,000. Alumis accounts for about 2.7% of Towerview LLC’s holdings, making the stock its 8th biggest holding. Towerview LLC owned 0.66% of Alumis as of its most recent filing with the Securities & Exchange Commission.

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.