Alumis (NASDAQ:ALMS) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reiterated its "Buy" rating for Alumis (NASDAQ:ALMS) with a price target of $14.00, suggesting a potential upside of 216.74% from the previous close.
• Several brokerages have also rated Alumis favorably, with Guggenheim setting a price target of $18.00 and Wells Fargo at $17.00, contributing to an average target price of $19.80.
• Alumis reported a quarterly earnings miss, with ($1.17) earnings per share against a consensus estimate of ($1.11), while hedge funds increased their stakes significantly during Q2.

Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 208.37% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Alumis in a research note on Friday, July 25th. They set an "overweight" rating and a $17.00 price target on the stock. Oppenheimer lowered their price target on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, Guggenheim raised Alumis to a "buy" rating and set a $18.00 target price on the stock in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $20.17.

Alumis Trading Down 6.4%

Shares of Alumis stock traded down $0.31 during trading hours on Thursday, hitting $4.54. The company had a trading volume of 284,983 shares, compared to its average volume of 705,646. The company's 50-day moving average is $3.61 and its two-hundred day moving average is $4.63. Alumis has a twelve month low of $2.76 and a twelve month high of $13.11.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.06). The company had revenue of $2.67 million for the quarter, compared to analysts' expectations of $1.80 million. On average, equities analysts forecast that Alumis will post -8.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently bought and sold shares of ALMS. Rhumbline Advisers lifted its position in Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock worth $102,000 after buying an additional 2,949 shares in the last quarter. Corebridge Financial Inc. lifted its position in Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock valued at $65,000 after purchasing an additional 3,693 shares during the period. Wells Fargo & Company MN lifted its position in Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after purchasing an additional 3,823 shares during the period. Northern Trust Corp lifted its position in Alumis by 4.3% during the 4th quarter. Northern Trust Corp now owns 111,326 shares of the company's stock valued at $875,000 after purchasing an additional 4,587 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alumis by 64.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company's stock valued at $77,000 after purchasing an additional 4,926 shares during the period.

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.