HC Wainwright Weighs in on Alumis’ Q3 Earnings (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) – Equities researchers at HC Wainwright issued their Q3 2024 EPS estimates for shares of Alumis in a note issued to investors on Thursday, October 17th. HC Wainwright analyst M. Kapoor forecasts that the company will post earnings of ($2.27) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Alumis’ current full-year earnings is ($6.86) per share. HC Wainwright also issued estimates for Alumis’ Q4 2024 earnings at ($1.20) EPS, FY2024 earnings at ($11.42) EPS, Q1 2025 earnings at ($1.21) EPS, Q2 2025 earnings at ($1.22) EPS, Q3 2025 earnings at ($1.23) EPS, Q4 2025 earnings at ($1.24) EPS and FY2025 earnings at ($4.90) EPS.

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

Alumis Stock Performance

Shares of ALMS stock opened at $12.58 on Monday. Alumis has a twelve month low of $9.54 and a twelve month high of $13.53. The stock’s fifty day moving average price is $11.65.

Alumis (NASDAQ:ALMS) last posted its earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53).

Institutional Investors Weigh In On Alumis

Large investors have recently modified their holdings of the company. SR One Capital Management LP bought a new stake in Alumis during the second quarter valued at $26,067,000. Yu Fan bought a new stake in shares of Alumis during the 2nd quarter valued at about $10,502,000. Ally Bridge Group NY LLC acquired a new stake in Alumis during the second quarter worth approximately $8,229,000. Towerview LLC acquired a new stake in Alumis during the second quarter worth approximately $4,123,000. Finally, Millennium Management LLC bought a new stake in Alumis in the second quarter worth approximately $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.