Alumis’ (ALMS) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Alumis (NASDAQ:ALMS) in a report issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock, down from their prior price target of $19.00.

Separately, Oppenheimer assumed coverage on Alumis in a report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target for the company. Seven 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 company currently has a consensus rating of “Buy” and an average price target of $26.00.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $3.75 on Thursday. Alumis has a 12-month low of $3.18 and a 12-month high of $13.53. The business has a 50 day moving average of $5.69 and a two-hundred day moving average of $8.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tang Capital Management LLC increased its stake in shares of Alumis by 40.6% during the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company’s stock worth $4,716,000 after purchasing an additional 173,406 shares in the last quarter. Foresite Capital Management V LLC increased its stake in shares of Alumis by 3.5% during the fourth quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company’s stock worth $45,426,000 after purchasing an additional 194,459 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Alumis by 1,257.0% during the fourth quarter. BNP Paribas Financial Markets now owns 34,835 shares of the company’s stock worth $274,000 after purchasing an additional 32,268 shares in the last quarter. Ally Bridge Group NY LLC increased its stake in shares of Alumis by 6.4% during the fourth quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company’s stock worth $3,500,000 after purchasing an additional 26,843 shares in the last quarter. Finally, Foresite Capital Management VI LLC purchased a new stake in shares of Alumis during the fourth quarter worth about $33,033,000.

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.