Alumis Inc. (NASDAQ:ALMS) Given Consensus Recommendation of "Buy" by Analysts

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have received an average recommendation of "Buy" from the nine brokerages that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.86.

ALMS has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a research note on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Alumis in a research note on Wednesday, April 30th. Finally, Oppenheimer decreased their price target 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.

Insiders Place Their Bets

In related news, major shareholder Foresite Labs, Llc bought 20,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $4.34 per share, for a total transaction of $86,800.00. Following the purchase, the insider now directly owns 4,247,670 shares of the company's stock, valued at approximately $18,434,887.80. The trade was a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Colowick acquired 16,104 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average price of $6.97 per share, for a total transaction of $112,244.88. Following the completion of the purchase, the director now owns 16,104 shares of the company's stock, valued at approximately $112,244.88. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 397,044 shares of company stock worth $1,891,895 in the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of Alumis in the fourth quarter worth $108,000. Tang Capital Management LLC raised its holdings in shares of 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 purchasing an additional 173,406 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alumis by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock worth $891,000 after purchasing an additional 4,808 shares during the last quarter. Norges Bank purchased a new position in shares of Alumis during the fourth quarter worth $1,606,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Alumis during the third quarter worth $191,000.

Alumis Trading Down 9.7%

Shares of ALMS stock traded down $0.38 during mid-day trading on Friday, reaching $3.53. 1,143,236 shares of the company's stock traded hands, compared to its average volume of 380,474. Alumis has a 12 month low of $3.18 and a 12 month high of $13.53. The firm has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $6.49.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results 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, equities analysts predict that Alumis will post -8.51 earnings per share for the current year.

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.