Cantor Fitzgerald Reaffirms Overweight Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Thursday,Benzinga reports.

A number of other brokerages have also issued reports on ALMS. Oppenheimer started coverage on shares of Alumis in a research note on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 price target (down from $19.00) on shares of Alumis in a research note on Thursday. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $26.00.

Alumis Stock Up 5.0 %

Shares of NASDAQ:ALMS opened at $3.75 on Thursday. The company has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $8.59. Alumis has a one year low of $3.18 and a one year high of $13.53.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently modified their holdings of ALMS. BNP Paribas Financial Markets purchased a new position in shares of Alumis during the 3rd quarter worth about $27,000. Wells Fargo & Company MN lifted its holdings in shares of Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock worth $69,000 after acquiring an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Alumis during the 4th quarter worth about $79,000. MetLife Investment Management LLC purchased a new position in shares of Alumis during the 3rd quarter worth about $89,000. Finally, Marshall Wace LLP purchased a new position in shares of Alumis during the 4th quarter worth about $108,000.

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.