HC Wainwright Reaffirms Buy Rating for Alumis (NASDAQ:ALMS)

HC Wainwright reaffirmed their buy rating on shares of Alumis (NASDAQ:ALMS) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $26.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird started coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price objective on the stock. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $26.83.

Alumis Stock Performance

Shares of NASDAQ ALMS opened at $8.79 on Monday. The company’s 50 day moving average price is $9.48. Alumis has a 52-week low of $7.46 and a 52-week high of $13.53.

Hedge Funds Weigh In On Alumis

Several institutional investors have recently modified their holdings of ALMS. Samsara BioCapital LLC bought a new stake in Alumis in the 3rd quarter valued at about $34,886,000. SR One Capital Management LP bought a new stake in shares of Alumis during the second quarter valued at approximately $26,067,000. Yu Fan bought a new stake in shares of Alumis during the second quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC bought a new position in Alumis in the 2nd quarter worth approximately $8,229,000. Finally, Geode Capital Management LLC bought a new position in Alumis in the 3rd quarter worth approximately $3,266,000.

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.