Robert W. Baird Begins Coverage on Alumis (NASDAQ:ALMS)

Research analysts at Robert W. Baird initiated coverage on shares of Alumis (NASDAQ:ALMS - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The brokerage set an "outperform" rating and a $25.00 price target on the stock. Robert W. Baird's target price would indicate a potential upside of 120.85% from the company's current price.

ALMS has been the subject of several other research reports. Morgan Stanley began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an "overweight" rating and a $36.00 price target for the company. Leerink Partnrs raised shares of Alumis to a "strong-buy" rating in a research report on Tuesday, July 23rd. Leerink Partners began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an "outperform" rating and a $29.00 target price for the company. HC Wainwright began coverage on shares of Alumis in a research report on Thursday, October 17th. They issued a "buy" rating and a $30.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alumis in a research report on Monday, August 19th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $27.50.

Alumis Stock Performance

Shares of ALMS stock traded up $0.09 during trading hours on Thursday, hitting $11.32. 71,372 shares of the company's stock traded hands, compared to its average volume of 159,676. The stock has a fifty day moving average price of $11.51. Alumis has a 12-month low of $9.54 and a 12-month high of $13.53.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($21.53). As a group, sell-side analysts forecast that Alumis will post -6.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALMS. Towerview LLC purchased a new position in shares of Alumis during the 2nd quarter worth $4,123,000. SR One Capital Management LP purchased a new position in shares of Alumis during the 2nd quarter worth $26,067,000. Ally Bridge Group NY LLC purchased a new position in shares of Alumis during the 2nd quarter valued at $8,229,000. Yu Fan purchased a new stake in Alumis in the 2nd quarter worth $10,502,000. Finally, Millennium Management LLC purchased a new stake in Alumis in the 2nd quarter worth $3,376,000.

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.