Alumis Inc. (NASDAQ:ALMS) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts have issued an average rating of "Buy" for shares of Alumis Inc. (NASDAQ:ALMS), with seven firms rating it as a buy and one as a strong buy.
• The average 12-month target price for the stock among brokers is $20.17, with various price targets set by different analysts ranging from $14.00 to $26.00.
• Alumis recently reported earnings of ($1.17) EPS for the quarter, missing estimates but exceeding revenue expectations with $2.67 million in revenue.

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have been given an average rating of "Buy" by the eight ratings firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $20.1667.

Several research analysts have issued reports on ALMS shares. Guggenheim upgraded shares of Alumis to a "buy" rating and set a $18.00 target price on the stock in a report on Tuesday, June 10th. HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of Alumis in a report on Thursday, August 14th. Oppenheimer lowered their price target on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Morgan Stanley lowered their price target on shares of Alumis from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Finally, Wells Fargo & Company initiated coverage on shares of Alumis in a report on Friday, July 25th. They issued an "overweight" rating and a $17.00 price target on the stock.

Alumis Trading Down 2.0%

Shares of Alumis stock opened at $4.51 on Friday. Alumis has a 1 year low of $2.76 and a 1 year high of $13.11. The firm's 50-day moving average is $4.07 and its two-hundred day moving average is $4.54.

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

Institutional Trading of Alumis

A number of institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Alumis by 102.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 19,197 shares of the company's stock valued at $58,000 after purchasing an additional 9,725 shares during the last quarter. Opaleye Management Inc. purchased a new position in shares of Alumis in the 2nd quarter valued at approximately $2,325,000. LMR Partners LLP purchased a new position in shares of Alumis in the 2nd quarter valued at approximately $699,000. General Atlantic L.P. purchased a new position in shares of Alumis in the 2nd quarter valued at approximately $3,893,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Alumis in the 2nd quarter valued at approximately $137,000.

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.

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