Alumis Inc. (NASDAQ:ALMS) Receives $25.86 Average Price Target from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have been assigned a consensus recommendation of "Buy" from the nine brokerages that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.86.

Several brokerages have issued reports on ALMS. Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They issued an "outperform" rating and a $32.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Alumis in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alumis in a research note on Thursday, March 20th.

Alumis Trading Down 1.1 %

Shares of NASDAQ ALMS traded down $0.05 during mid-day trading on Monday, reaching $4.35. 352,536 shares of the company's stock were exchanged, compared to its average volume of 320,703. The firm has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $7.36. Alumis has a 52 week low of $3.18 and a 52 week high of $13.53.

Insiders Place Their Bets

In other news, Director Alan Colowick acquired 16,104 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were purchased at an average price of $6.97 per share, for a total transaction of $112,244.88. Following the completion of the transaction, the director now owns 16,104 shares of the company's stock, valued at $112,244.88. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin Babler acquired 15,650 shares of the stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average cost of $6.44 per share, with a total value of $100,786.00. Following the completion of the purchase, the chief executive officer now owns 106,454 shares of the company's stock, valued at approximately $685,563.76. The trade was a 17.23 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 352,044 shares of company stock valued at $1,689,595 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALMS. Wells Fargo & Company MN raised its holdings in Alumis by 77.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock worth $69,000 after purchasing an additional 3,823 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Alumis during the fourth quarter valued at $79,000. Rhumbline Advisers lifted its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock worth $102,000 after buying an additional 2,949 shares in the last quarter. Marshall Wace LLP purchased a new position in Alumis in the 4th quarter worth approximately $108,000. Finally, XTX Topco Ltd bought a new position in shares of Alumis during the fourth quarter valued at $129,000.

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.