Alumis' (ALMS) "Buy" Rating Reaffirmed 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 restated by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 194.74% from the company's current price.

Several other brokerages have also weighed in on ALMS. Guggenheim raised Alumis to a "buy" rating and set a $18.00 target price on the stock in a research report on Tuesday, June 10th. Oppenheimer cut their price objective on Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Finally, Wells Fargo & Company began coverage on Alumis in a research report on Friday, July 25th. They issued an "overweight" rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alumis presently has an average rating of "Buy" and a consensus target price of $20.17.

Alumis Trading Up 8.2%

ALMS traded up $0.36 on Thursday, hitting $4.75. 865,122 shares of the company were exchanged, compared to its average volume of 747,922. The firm has a 50-day moving average price of $3.59 and a two-hundred day moving average price of $4.66. Alumis has a twelve month low of $2.76 and a twelve month high of $13.11.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.06). The business had revenue of $2.67 million during the quarter, compared to analysts' expectations of $1.80 million. Sell-side analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alumis

Several hedge funds and other institutional investors have recently made changes to their positions in ALMS. Kera Capital Partners Inc. acquired a new stake in Alumis in the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey lifted its position in Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company's stock worth $32,000 after purchasing an additional 7,165 shares during the period. New York State Common Retirement Fund lifted its position in Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company's stock worth $35,000 after purchasing an additional 7,467 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Alumis during the 2nd quarter valued at $36,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Alumis during the 2nd quarter valued at $40,000.

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.