Alumis' (ALMS) Overweight Rating Reaffirmed at Cantor Fitzgerald

Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports.

Several other research firms have also weighed in on ALMS. Oppenheimer initiated coverage on shares of Alumis in a report on Thursday, January 30th. They set an "outperform" rating and a $32.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective (down previously from $19.00) on shares of Alumis in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Alumis currently has a consensus rating of "Buy" and an average price target of $26.00.

Alumis Stock Up 0.8 %

Alumis stock traded up $0.03 during midday trading on Thursday, hitting $3.78. 208,999 shares of the company were exchanged, compared to its average volume of 175,295. The business has a fifty day simple moving average of $5.62 and a two-hundred day simple moving average of $8.49. Alumis has a fifty-two week low of $3.18 and a fifty-two week high of $13.53.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALMS. Geode Capital Management LLC acquired a new stake in shares of Alumis in the third quarter valued at about $3,266,000. State Street Corp acquired a new stake in Alumis in the 3rd quarter worth about $866,000. Charles Schwab Investment Management Inc. acquired a new stake in Alumis in the 3rd quarter worth about $1,160,000. Stifel Financial Corp purchased a new stake in Alumis during the 3rd quarter worth approximately $931,000. Finally, Barclays PLC acquired a new position in shares of Alumis during the third quarter valued at approximately $197,000.

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Alumis Company Profile

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.