Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $26.00

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have received an average rating of "Buy" from the nine research firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $26.00.

Several analysts have commented on ALMS shares. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Alumis in a research report on Wednesday, March 26th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a report on Thursday, March 20th. Finally, Oppenheimer began coverage on Alumis in a research report on Thursday, January 30th. They issued an "outperform" rating and a $32.00 price target for the company.

Insider Buying and Selling at Alumis

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Foresite Capital Management V LLC lifted its position in shares of Alumis by 3.5% in the 4th quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company's stock worth $45,426,000 after acquiring an additional 194,459 shares during the period. Foresite Capital Management VI LLC bought a new position in Alumis in the fourth quarter worth $33,033,000. Tang Capital Management LLC increased its holdings in Alumis by 40.6% in the 4th quarter. Tang Capital Management LLC now owns 600,000 shares of the company's stock valued at $4,716,000 after buying an additional 173,406 shares during the period. Ally Bridge Group NY LLC raised its stake in shares of Alumis by 6.4% in the 4th quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company's stock valued at $3,500,000 after buying an additional 26,843 shares in the last quarter. Finally, Towerview LLC lifted its holdings in shares of Alumis by 9.2% during the 4th quarter. Towerview LLC now owns 415,000 shares of the company's stock worth $3,262,000 after acquiring an additional 35,000 shares during the period.

Alumis Trading Down 5.2 %

Shares of NASDAQ ALMS traded down $0.28 during trading hours on Thursday, hitting $5.11. The stock had a trading volume of 353,966 shares, compared to its average volume of 317,942. The firm's 50-day moving average price is $5.56 and its two-hundred day moving average price is $7.97. Alumis has a 52 week low of $3.18 and a 52 week high of $13.53.

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.