Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $27.50

Shares of Alumis Inc. (NASDAQ:ALMS) have received an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.83.

Several research firms have weighed in on ALMS. Leerink Partners began coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price on the stock. Morgan Stanley began coverage on Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price on the stock. Baird R W upgraded Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Leerink Partnrs raised Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Thursday.

Alumis Stock Performance

NASDAQ ALMS opened at $8.85 on Monday. Alumis has a fifty-two week low of $8.23 and a fifty-two week high of $13.53. The company’s 50-day moving average is $11.22.

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently added to or reduced their stakes in ALMS. Samsara BioCapital LLC acquired a new stake in Alumis during the third quarter valued at approximately $34,886,000. SR One Capital Management LP acquired a new stake in Alumis during the second quarter valued at approximately $26,067,000. Yu Fan acquired a new stake in Alumis during the second quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC acquired a new stake in Alumis during the second quarter valued at approximately $8,229,000. Finally, Towerview LLC acquired a new stake in Alumis during the second quarter valued at approximately $4,123,000.

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.