Analysts Set Alumis Inc. (NASDAQ:ALMS) Target Price at $26.83

Shares of Alumis Inc. (NASDAQ:ALMS) have earned an average rating of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.83.

Several brokerages recently commented on ALMS. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Robert W. Baird initiated coverage on shares of Alumis in a research report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Alumis in a research note on Monday, January 6th. Finally, Baird R W raised Alumis to a “strong-buy” rating in a report on Thursday, October 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in shares of Alumis in the third quarter worth approximately $3,266,000. State Street Corp purchased a new stake in shares of Alumis during the third quarter worth $866,000. Charles Schwab Investment Management Inc. acquired a new stake in Alumis during the third quarter valued at $1,160,000. Towerview LLC grew its stake in Alumis by 22.6% in the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Alumis in the 3rd quarter worth about $931,000.

Alumis Stock Performance

ALMS stock opened at $6.75 on Friday. The firm’s 50-day moving average is $8.33 and its two-hundred day moving average is $10.56. Alumis has a 52 week low of $6.40 and a 52 week high of $13.53.

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.