Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $27.50

Alumis Inc. (NASDAQ:ALMS - Get Free Report) has been assigned an average recommendation of "Buy" from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $27.50.

Several analysts recently weighed in on the company. Leerink Partnrs raised Alumis to a "strong-buy" rating in a research note on Tuesday, July 23rd. Baird R W upgraded Alumis to a "strong-buy" rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a report on Monday, August 19th. Morgan Stanley assumed coverage on Alumis in a research note on Tuesday, July 23rd. They issued an "overweight" rating and a $36.00 price objective for the company. Finally, HC Wainwright assumed coverage on Alumis in a research note on Thursday, October 17th. They issued a "buy" rating and a $30.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALMS. Maven Securities LTD purchased a new position in shares of Alumis in the 2nd quarter worth $332,000. Millennium Management LLC bought a new stake in Alumis during the second quarter valued at about $3,376,000. Towerview LLC raised its holdings in Alumis by 22.6% during the third quarter. Towerview LLC now owns 380,000 shares of the company's stock valued at $4,058,000 after acquiring an additional 70,000 shares during the period. Ally Bridge Group NY LLC bought a new stake in shares of Alumis in the second quarter worth about $8,229,000. Finally, Yu Fan bought a new stake in shares of Alumis in the second quarter worth about $10,502,000.

Alumis Stock Performance

Shares of ALMS traded down $0.09 on Monday, hitting $11.93. The company's stock had a trading volume of 39,773 shares, compared to its average volume of 151,765. Alumis has a fifty-two week low of $9.54 and a fifty-two week high of $13.53. The business has a fifty day moving average of $11.39.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.57) by ($21.53). Equities research analysts predict that Alumis will post -8 EPS for the current fiscal year.

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.