Alumis Inc. (NASDAQ:ALMS) Receives $19.80 Consensus Price Target from Brokerages

Key Points

• Shares of Alumis Inc. (NASDAQ:ALMS) have received a consensus rating of "Buy" from seven ratings firms, with an average price target of $19.80.
• Recent coverage updates include Wells Fargo issuing an "overweight" rating and setting a price target of $17.00, while Guggenheim upgraded their rating to "buy"" with a target of $18.00.
• Alumis reported a loss of ($1.82) earnings per share, missing the consensus estimate and highlighting a lack of profitability as they are projected to report -8.51 EPS for the current fiscal year.

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have earned an average recommendation of "Buy" from the eight research firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.1667.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Alumis from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday. Oppenheimer cut their price objective on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Wells Fargo & Company assumed coverage on shares of Alumis in a research note on Friday, July 25th. They set an "overweight" rating and a $17.00 price objective on the stock. Wall Street Zen upgraded shares of Alumis from a "strong sell" rating to a "hold" rating in a research note on Saturday. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Alumis in a research note on Thursday.

Alumis Stock Performance

ALMS stock traded up $0.36 during mid-day trading on Wednesday, reaching $4.75. The company had a trading volume of 865,122 shares, compared to its average volume of 747,922. Alumis has a one year low of $2.76 and a one year high of $13.11. The stock's 50-day simple moving average is $3.59 and its two-hundred day simple moving average is $4.66.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in Alumis during the fourth quarter worth about $108,000. Tang Capital Management LLC grew its holdings in Alumis by 40.6% during the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company's stock worth $4,716,000 after acquiring an additional 173,406 shares during the period. Barclays PLC increased its stake in Alumis by 33.9% in the 4th quarter. Barclays PLC now owns 24,581 shares of the company's stock worth $193,000 after purchasing an additional 6,221 shares in the last quarter. Foresite Capital Management V LLC increased its stake in Alumis by 3.5% in the 4th quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company's stock worth $45,426,000 after purchasing an additional 194,459 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Alumis by 4.3% in the 4th quarter. Northern Trust Corp now owns 111,326 shares of the company's stock worth $875,000 after purchasing an additional 4,587 shares in the last quarter.

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.