Alumis (NASDAQ:ALMS) Earns Buy Rating from Analysts at HC Wainwright

by · The Cerbat Gem

HC Wainwright started coverage on shares of Alumis (NASDAQ:ALMS – Free Report) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Several other equities analysts also recently weighed in on ALMS. Guggenheim assumed coverage on shares of Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley assumed coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company. Leerink Partners initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $28.00.

View Our Latest Stock Analysis on ALMS

Alumis Stock Up 8.2 %

Shares of ALMS opened at $12.03 on Thursday. The company has a 50-day moving average of $11.64. Alumis has a 52-week low of $9.54 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). On average, equities research analysts forecast that Alumis will post -6.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently modified their holdings of the stock. Maven Securities LTD acquired a new stake in shares of Alumis in the second quarter worth approximately $332,000. Millennium Management LLC acquired a new stake in shares of Alumis in the second quarter worth approximately $3,376,000. Yu Fan acquired a new stake in shares of Alumis in the second quarter worth approximately $10,502,000. Ally Bridge Group NY LLC acquired a new stake in shares of Alumis in the second quarter worth approximately $8,229,000. Finally, SR One Capital Management LP acquired a new stake in shares of Alumis in the second quarter worth approximately $26,067,000.

About Alumis

(Get Free Report)

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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