Alumis Inc. (NASDAQ:ALMS) Given Average Recommendation of "Buy" by 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 been given a consensus rating of "Buy" by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.80.

Several research firms recently commented on ALMS. Wells Fargo & Company began coverage on shares of Alumis in a research report on Friday, July 25th. They issued an "overweight" rating and a $17.00 price target for the company. Guggenheim upgraded shares of Alumis to a "buy" rating and set a $18.00 price target for the company in a research report on Tuesday, June 10th. Oppenheimer reduced 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, HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Alumis in a research report on Friday, July 25th.

Alumis Stock Performance

Shares of NASDAQ:ALMS opened at $4.46 on Wednesday. Alumis has a twelve month low of $2.76 and a twelve month high of $13.11. The firm has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $4.71.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.47) by ($0.35). As a group, sell-side analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alumis

A number of large investors have recently bought and sold shares of ALMS. Foresite Capital Management VI LLC purchased a new position in Alumis during the 4th quarter worth $33,033,000. Tybourne Capital Management HK Ltd. purchased a new position in Alumis during the 2nd quarter worth $4,198,000. BML Capital Management LLC raised its position in Alumis by 2,339.0% during the 2nd quarter. BML Capital Management LLC now owns 1,210,415 shares of the company's stock worth $3,631,000 after buying an additional 1,160,788 shares during the last quarter. Geode Capital Management LLC raised its position in Alumis by 163.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company's stock worth $3,504,000 after buying an additional 724,133 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Alumis by 1,639.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 292,181 shares of the company's stock worth $877,000 after buying an additional 275,383 shares during the last quarter.

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.

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