Alumis (NASDAQ:ALMS) Upgraded to Strong-Buy at Baird R W

Baird R W upgraded shares of Alumis (NASDAQ:ALMS - Free Report) to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

ALMS has been the subject of several other reports. Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a report on Monday, August 19th. Morgan Stanley assumed coverage on Alumis in a research note on Tuesday, July 23rd. They issued an "overweight" rating and a $36.00 target price on the stock. Robert W. Baird started coverage on Alumis in a research note on Thursday. They set an "outperform" rating and a $25.00 price objective on the stock. Guggenheim initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $32.00 target price for the company. Finally, HC Wainwright began coverage on shares of Alumis in a research note on Thursday, October 17th. They set a "buy" rating and a $30.00 price target on the stock. Six equities 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.com, the stock has an average rating of "Buy" and a consensus target price of $27.50.

Alumis Price Performance

ALMS stock remained flat at $11.32 on Thursday. The company had a trading volume of 39,371 shares, compared to its average volume of 158,308. Alumis has a 52-week low of $9.54 and a 52-week high of $13.53. The stock has a fifty day moving average price of $11.51.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings data 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). On average, equities research analysts anticipate that Alumis will post -8 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

A number of large investors have recently bought and sold shares of ALMS. Maven Securities LTD purchased a new stake in shares of Alumis during the 2nd quarter worth about $332,000. Millennium Management LLC acquired a new stake in shares of Alumis in the second quarter worth $3,376,000. Yu Fan purchased a new position in shares of Alumis in the 2nd quarter valued at $10,502,000. Ally Bridge Group NY LLC acquired a new position in shares of Alumis during the 2nd quarter valued at $8,229,000. Finally, SR One Capital Management LP acquired a new stake in Alumis in the 2nd quarter valued at $26,067,000.

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.