Alumis (NASDAQ:ALMS) Price Target Lowered to $19.00 at HC Wainwright

Alumis (NASDAQ:ALMS) had its target price reduced by HC Wainwright from $26.00 to $19.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Robert W. Baird assumed coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. Oppenheimer initiated coverage on shares of Alumis in a research report on Thursday, January 30th. They set an “outperform” rating and a $32.00 target price for the company. Baird R W upgraded Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alumis currently has an average rating of “Buy” and a consensus target price of $26.57.

Alumis Price Performance

Shares of Alumis stock opened at $5.67 on Friday. The business has a 50 day moving average price of $7.87 and a 200-day moving average price of $10.27. Alumis has a 52 week low of $4.86 and a 52 week high of $13.53.

Hedge Funds Weigh In On Alumis

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in Alumis in the 3rd quarter worth about $27,000. MetLife Investment Management LLC acquired a new position in shares of Alumis during the 3rd quarter worth approximately $89,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Alumis during the 4th quarter valued at approximately $79,000. JPMorgan Chase & Co. acquired a new stake in Alumis in the 3rd quarter valued at $191,000. Finally, Barclays PLC purchased a new stake in Alumis in the 3rd quarter worth $197,000.

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.