Alumis (NASDAQ:ALMS) Price Target Cut to $26.00 by Analysts at HC Wainwright

Alumis (NASDAQ:ALMS) had its target price lowered by stock analysts at HC Wainwright from $30.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 193.79% from the stock’s previous close.

A number of other research firms also recently weighed in on ALMS. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Guggenheim began coverage on Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective for the company. Morgan Stanley assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Leerink Partners began coverage on Alumis in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $26.83.

Alumis Stock Performance

Shares of ALMS opened at $8.85 on Thursday. The firm has a 50 day moving average of $11.29. Alumis has a twelve month low of $8.23 and a twelve month high of $13.53.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data 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). Analysts anticipate that Alumis will post -8 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

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