Baird R W Upgrades Alumis (NASDAQ:ALMS) to Strong-Buy

Alumis (NASDAQ:ALMS) was upgraded by research analysts at Baird R W to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

A number of other research firms have also weighed in on ALMS. HC Wainwright began coverage on Alumis in a research note on Thursday, October 17th. They set a “buy” rating and a $30.00 price objective for the company. Leerink Partners assumed coverage on Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird assumed coverage on Alumis in a research note on Thursday. They issued an “outperform” rating and a $25.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.50.

Alumis Trading Up 0.8 %

Shares of NASDAQ ALMS opened at $11.32 on Thursday. The firm’s fifty day moving average is $11.51. Alumis has a 12-month low of $9.54 and a 12-month high of $13.53.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). As a group, equities research analysts expect that Alumis will post -6.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Maven Securities LTD acquired a new position in shares of Alumis during the 2nd quarter worth approximately $332,000. Millennium Management LLC acquired a new position in Alumis in the second quarter valued at approximately $3,376,000. Towerview LLC acquired a new position in Alumis in the second quarter valued at approximately $4,123,000. Ally Bridge Group NY LLC acquired a new position in Alumis in the second quarter valued at approximately $8,229,000. Finally, Yu Fan acquired a new position in Alumis in the second quarter valued at approximately $10,502,000.

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.