Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $27.50

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $28.00.

ALMS has been the subject of a number of recent research reports. Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a report on Monday, August 19th. HC Wainwright began coverage on Alumis in a research note on Thursday. They set a “buy” rating and a $30.00 price target for the company. Finally, Leerink Partners began coverage on Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective for the company.

Alumis Price Performance

Shares of Alumis stock opened at $12.03 on Thursday. The company has a 50-day moving average price of $11.64. Alumis has a one year low of $9.54 and a one year high of $13.53.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). Analysts expect that Alumis will post -6.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SR One Capital Management LP bought a new position in shares of Alumis during the 2nd quarter worth approximately $26,067,000. Yu Fan bought a new position in shares of Alumis in the second quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC purchased a new stake in shares of Alumis during the second quarter valued at approximately $8,229,000. Towerview LLC bought a new stake in Alumis during the second quarter worth $4,123,000. Finally, Millennium Management LLC purchased a new position in Alumis in the second quarter worth $3,376,000.

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.