Alumis Inc. (NASDAQ:ALMS) Receives Average Recommendation of "Buy" from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have been given an average recommendation of "Buy" by the nine brokerages that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $26.57.

ALMS has been the topic of several research reports. Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They issued an "outperform" rating and a $32.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a research report on Thursday, November 14th. HC Wainwright reduced their price target on Alumis from $26.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Baird R W upgraded Alumis to a "strong-buy" rating in a research report on Thursday, October 31st. Finally, Robert W. Baird initiated coverage on Alumis in a research report on Thursday, October 31st. They issued an "outperform" rating and a $25.00 price target for the company.

Hedge Funds Weigh In On Alumis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tang Capital Management LLC grew its position in 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 buying an additional 173,406 shares in the last quarter. Foresite Capital Management V LLC grew its position in 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 buying an additional 194,459 shares in the last quarter. BNP Paribas Financial Markets grew its position in 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 buying an additional 32,268 shares in the last quarter. Ally Bridge Group NY LLC grew its position in 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 buying an additional 26,843 shares in the last quarter. Finally, Foresite Capital Management VI LLC purchased a new position in Alumis during the fourth quarter worth about $33,033,000.

Alumis Stock Performance

Shares of ALMS traded up $0.04 during mid-day trading on Wednesday, hitting $5.17. The stock had a trading volume of 456,737 shares, compared to its average volume of 258,036. The business has a fifty day moving average price of $7.18 and a 200-day moving average price of $9.75. Alumis has a 52 week low of $4.74 and a 52 week 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.