Alumis (NASDAQ:ALMS) Price Target Lowered to $26.00 at HC Wainwright

Alumis (NASDAQ:ALMS - Get Free Report) had its target price lowered by HC Wainwright from $30.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 176.30% from the stock's previous close.

Several other equities research analysts have also recently commented on ALMS. Leerink Partners began coverage on Alumis in a research report on Tuesday, July 23rd. They set an "outperform" rating and a $29.00 price objective on the stock. Morgan Stanley started coverage on Alumis in a research report on Tuesday, July 23rd. They issued an "overweight" rating and a $36.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a research report on Monday, August 19th. Robert W. Baird started coverage on Alumis in a research report on Thursday, October 31st. They issued an "outperform" rating and a $25.00 target price on the stock. Finally, Leerink Partnrs raised Alumis to a "strong-buy" rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $26.83.

Alumis Price Performance

Shares of Alumis stock traded down $1.40 during trading on Thursday, hitting $9.41. 235,882 shares of the company's stock traded hands, compared to its average volume of 151,224. Alumis has a 1 year low of $9.16 and a 1 year high of $13.53. The stock has a 50-day simple moving average of $11.33.

Alumis (NASDAQ:ALMS - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing the consensus estimate of ($1.57) by ($21.53). As a group, sell-side analysts expect that Alumis will post -8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Alumis during the 3rd quarter valued at about $27,000. MetLife Investment Management LLC bought a new stake in Alumis during the 3rd quarter valued at approximately $89,000. Maven Securities LTD bought a new stake in Alumis during the 2nd quarter valued at approximately $332,000. Towerview LLC raised its stake in Alumis by 22.6% during the 3rd quarter. Towerview LLC now owns 380,000 shares of the company's stock valued at $4,058,000 after purchasing an additional 70,000 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new stake in Alumis during the 3rd quarter valued at approximately $1,160,000.

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.