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

Key Points

• Alumis Inc. (NASDAQ:ALMS) has been assigned an average recommendation of "Buy" by eight analysts, with seven analysts rating it as "buy" and one as "strong buy."
• The company's average twelve-month price target among brokerages is $20.17, although recent analyst reports have set varied target prices, with HC Wainwright at $14.00 and Wells Fargo at $17.00.
• Alumis recently reported a quarterly loss of ($1.17) earnings per share, missing expectations, but exceeded revenue estimates with $2.67 million for the quarter.

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

ALMS has been the topic of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Morgan Stanley dropped their target price on shares of Alumis from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Alumis from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company initiated coverage on shares of Alumis in a research note on Friday, July 25th. They issued an "overweight" rating and a $17.00 price target on the stock. Finally, Guggenheim raised shares of Alumis to a "buy" rating and set a $18.00 price target on the stock in a research note on Tuesday, June 10th.

Hedge Funds Weigh In On Alumis

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

Alumis Stock Performance

ALMS stock opened at $4.06 on Thursday. The firm's fifty day moving average is $4.35 and its 200 day moving average is $4.46. Alumis has a one year low of $2.76 and a one year high of $13.11.

Alumis (NASDAQ:ALMS - Get Free Report) last announced 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 firm had revenue of $2.67 million for the quarter, compared to analyst estimates of $1.80 million. As a group, research analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.