Alumis (NASDAQ:ALMS) Receives "Buy" Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Alumis (NASDAQ:ALMS - Free Report) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock, down from their prior target price of $19.00.

Separately, Oppenheimer began coverage on shares of Alumis in a report on Thursday, January 30th. They set an "outperform" rating and a $32.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $26.00.

Alumis Price Performance

NASDAQ:ALMS traded up $0.03 during mid-day trading on Thursday, reaching $3.78. The company's stock had a trading volume of 208,999 shares, compared to its average volume of 175,295. The firm's fifty day moving average price is $5.62 and its two-hundred day moving average price is $8.49. Alumis has a 12-month low of $3.18 and a 12-month high of $13.53.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in shares of Alumis during the 3rd quarter worth $27,000. Wells Fargo & Company MN lifted its position in Alumis by 77.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after purchasing an additional 3,823 shares in the last quarter. Northern Trust Corp lifted its position in Alumis by 4.3% during the fourth quarter. Northern Trust Corp now owns 111,326 shares of the company's stock valued at $875,000 after purchasing an additional 4,587 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Alumis by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock worth $891,000 after buying an additional 4,808 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Alumis by 33.9% in the fourth quarter. Barclays PLC now owns 24,581 shares of the company's stock worth $193,000 after buying an additional 6,221 shares during the period.

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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.