HC Wainwright Reiterates Buy Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 219.15% from the stock’s previous close. HC Wainwright also issued estimates for Alumis’ Q1 2025 earnings at ($1.29) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($1.01) EPS, Q4 2025 earnings at ($1.01) EPS and FY2025 earnings at ($4.26) EPS.

A number of other research firms have also recently weighed in on ALMS. Oppenheimer assumed coverage on Alumis in a research report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $26.00.

Alumis Trading Down 4.5 %

NASDAQ ALMS opened at $4.70 on Wednesday. The business’s fifty day moving average is $5.43 and its 200 day moving average is $8.38. Alumis has a fifty-two week low of $3.18 and a fifty-two week high of $13.53.

Hedge Funds Weigh In On Alumis

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Alumis during the third quarter valued at approximately $27,000. MetLife Investment Management LLC bought a new position in Alumis during the third quarter valued at $89,000. Wells Fargo & Company MN raised its stake in shares of Alumis by 77.1% in the fourth 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. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alumis in the 4th quarter worth about $79,000. 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.