Alumis Inc. (NASDAQ:ALMS) Receives $19.80 Consensus Price Target from Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.1667.

ALMS has been the topic of a number of recent research reports. Guggenheim raised shares of Alumis to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, June 10th. Wells Fargo & Company assumed coverage on shares of Alumis in a research report on Friday, July 25th. They issued an “overweight” rating and a $17.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Alumis in a research report on Thursday. Morgan Stanley cut their price objective on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Oppenheimer cut their price objective on shares of Alumis from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th.

Alumis Stock Up 8.2%

NASDAQ:ALMS opened at $4.75 on Wednesday. The firm’s 50-day moving average price is $3.59 and its 200-day moving average price is $4.68. Alumis has a 1-year low of $2.76 and a 1-year high of $13.11.

Alumis (NASDAQ:ALMS) last released its earnings results on Wednesday, August 13th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.06). The firm had revenue of $2.67 million for the quarter, compared to analysts’ expectations of $1.80 million. As a group, sell-side analysts predict that Alumis will post -8.51 EPS for the current fiscal year.

Institutional Trading of Alumis

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after acquiring an additional 3,823 shares during the period. Kera Capital Partners Inc. bought a new position in Alumis during the 2nd quarter valued at about $32,000. Corebridge Financial Inc. lifted its stake in Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after acquiring an additional 7,165 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares during the period.

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.