Alumis (NASDAQ:ALMS) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Alumis (NASDAQ:ALMS - Free Report) in a report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Several other research analysts have also recently issued reports on ALMS. Leerink Partnrs raised Alumis to a "strong-buy" rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a research report on Monday, August 19th. Morgan Stanley initiated 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. Leerink Partners initiated coverage on Alumis in a research report on Tuesday, July 23rd. They issued an "outperform" rating and a $29.00 target price on the stock. Finally, Guggenheim initiated coverage on Alumis in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $32.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $28.00.

Alumis Price Performance

Shares of Alumis stock traded down $0.07 during trading on Thursday, hitting $11.12. 47,485 shares of the company's stock traded hands, compared to its average volume of 171,084. Alumis has a 1 year low of $9.54 and a 1 year high of $13.53. The stock has a 50-day simple moving average of $11.66.

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 -6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALMS. Maven Securities LTD bought a new stake in Alumis during the 2nd quarter valued at approximately $332,000. Millennium Management LLC bought a new position in shares of Alumis during the 2nd quarter valued at approximately $3,376,000. Towerview LLC purchased a new position in Alumis during the 2nd quarter valued at $4,123,000. Ally Bridge Group NY LLC purchased a new position in Alumis during the 2nd quarter valued at $8,229,000. Finally, Yu Fan purchased a new position in Alumis during the 2nd quarter valued at $10,502,000.

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.