Alumis Inc. (NASDAQ:ALMS - Get Free Report)'s stock price rose 8.6% during trading on Thursday . The stock traded as high as $11.87 and last traded at $11.87. Approximately 32,864 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 141,065 shares. The stock had previously closed at $10.93.
Wall Street Analysts Forecast Growth
ALMS has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $32.00 target price for the company. 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 objective for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a research report on Monday, August 19th. Leerink Partnrs upgraded shares of Alumis to a "strong-buy" rating in a research report on Tuesday, July 23rd. Finally, Leerink Partners began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an "outperform" rating and a $29.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alumis has an average rating of "Buy" and a consensus price target of $27.50.
Check Out Our Latest Report on Alumis
Alumis Stock Performance
The business's 50-day moving average is $12.37.
Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.57) by ($21.53). As a group, equities research analysts forecast that Alumis Inc. will post -6.86 EPS for the current year.
Institutional Investors Weigh In On Alumis
A number of institutional investors have recently modified their holdings of the company. Maven Securities LTD bought a new stake in shares of Alumis in the 2nd quarter valued at $332,000. Millennium Management LLC bought a new stake in shares of Alumis in the 2nd quarter valued at $3,376,000. Towerview LLC bought a new stake in shares of Alumis in the 2nd quarter valued at $4,123,000. Ally Bridge Group NY LLC bought a new stake in shares of Alumis in the 2nd quarter valued at $8,229,000. Finally, Yu Fan bought a new position in Alumis during the second quarter worth $10,502,000.
Alumis Company Profile
(
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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.
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