Alumis (NASDAQ:ALMS) Sets New 52-Week Low at $10.37

Shares of Alumis Inc. (NASDAQ:ALMS) hit a new 52-week low on Monday . The company traded as low as $10.37 and last traded at $10.97, with a volume of 91804 shares trading hands. The stock had previously closed at $11.59.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALMS. Leerink Partners started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. 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 objective for the company. Morgan Stanley began coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 target price on the stock. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.50.

Alumis Trading Down 4.7 %

The stock’s fifty day moving average price is $12.33.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing the consensus estimate of ($1.57) by ($21.53). On average, research analysts expect that Alumis Inc. will post -6.86 EPS for the current year.

Hedge Funds Weigh In On Alumis

Large investors have recently modified their holdings of the business. SR One Capital Management LP purchased a new stake in Alumis in the 2nd quarter valued at about $26,067,000. Yu Fan acquired a new stake in shares of Alumis during the second quarter valued at about $10,502,000. Ally Bridge Group NY LLC acquired a new stake in shares of Alumis during the second quarter valued at about $8,229,000. Towerview LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $4,123,000. Finally, Millennium Management LLC acquired a new position in shares of Alumis in the 2nd quarter worth approximately $3,376,000.

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.