Alumis Inc. (NASDAQ:ALMS) Receives Consensus Recommendation of “Buy” from Analysts

Alumis Inc. (NASDAQ:ALMS) has earned an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $26.00.

A number of equities research analysts recently issued reports on ALMS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Alumis in a report on Wednesday, March 26th. Finally, Oppenheimer started coverage on shares of Alumis in a research report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target for the company.

Insider Buying and Selling

In related news, Director Alan Colowick bought 16,104 shares of Alumis stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average cost of $6.97 per share, with a total value of $112,244.88. Following the completion of the transaction, the director now owns 16,104 shares in the company, valued at $112,244.88. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Martin Babler bought 15,650 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were purchased at an average cost of $6.44 per share, with a total value of $100,786.00. Following the completion of the transaction, the chief executive officer now owns 106,454 shares in the company, valued at $685,563.76. This represents a 17.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. purchased a new position in shares of Alumis in the third quarter worth about $1,160,000. BNP Paribas Financial Markets acquired a new stake in Alumis in the 3rd quarter valued at $27,000. MetLife Investment Management LLC acquired a new position in shares of Alumis during the 3rd quarter worth about $89,000. Stifel Financial Corp acquired a new stake in shares of Alumis in the third quarter worth approximately $931,000. Finally, State Street Corp purchased a new stake in shares of Alumis during the third quarter worth $866,000.

Alumis Trading Up 8.6 %

Alumis stock opened at $8.04 on Thursday. The business’s 50 day simple moving average is $5.66 and its 200 day simple moving average is $8.13. Alumis has a 12 month low of $3.18 and a 12 month high of $13.53.

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.