JPMorgan Chase & Co. Invests $191,000 in Alumis Inc. (NASDAQ:ALMS)

JPMorgan Chase & Co. acquired a new stake in Alumis Inc. (NASDAQ:ALMS) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 17,875 shares of the company’s stock, valued at approximately $191,000.

A number of other large investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Alumis in the 3rd quarter valued at $27,000. MetLife Investment Management LLC purchased a new stake in Alumis during the third quarter worth about $89,000. Barclays PLC purchased a new stake in Alumis during the third quarter worth about $197,000. Maven Securities LTD lifted its position in shares of Alumis by 100.0% during the third quarter. Maven Securities LTD now owns 50,000 shares of the company’s stock worth $534,000 after purchasing an additional 25,000 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of Alumis in the third quarter valued at approximately $866,000.

Analyst Upgrades and Downgrades

ALMS has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Oppenheimer initiated coverage on Alumis in a report on Thursday. They issued an “outperform” rating and a $32.00 target price for the company. 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. Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird initiated coverage on Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price objective for the company. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.57.

Alumis Trading Up 11.3 %

ALMS opened at $7.48 on Friday. Alumis Inc. has a one year low of $6.29 and a one year high of $13.53. The business’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $10.41.

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.