Alumis Inc. (NASDAQ:ALMS) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have earned a consensus recommendation of "Buy" from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.86.

A number of research analysts have recently issued reports on the company. Guggenheim upgraded Alumis to a "buy" rating and set a $18.00 price target on the stock in a report on Tuesday, June 10th. Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a research note on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of Alumis in a research note on Wednesday, April 30th. Finally, Oppenheimer dropped their target price on Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th.

Alumis Trading Down 2.1%

Shares of NASDAQ:ALMS opened at $2.80 on Tuesday. Alumis has a 12-month low of $2.77 and a 12-month high of $13.53. The business's fifty day simple moving average is $4.21 and its 200-day simple moving average is $5.77.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.47) by ($0.35). As a group, equities analysts anticipate that Alumis will post -8.51 earnings per share for the current year.

Insider Buying and Selling at Alumis

In related news, CEO Martin Babler acquired 15,650 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was acquired at an average price of $6.44 per share, with a total value of $100,786.00. Following the acquisition, the chief executive officer now directly owns 106,454 shares in the company, valued at $685,563.76. This represents a 17.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju acquired 159,920 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $4.55 per share, with a total value of $727,636.00. Following the acquisition, the director now owns 3,426,418 shares in the company, valued at approximately $15,590,201.90. This trade represents a 4.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 397,044 shares of company stock worth $1,891,895. 40.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alumis

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in shares of Alumis by 77.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after buying an additional 3,823 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock valued at $65,000 after buying an additional 3,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company's stock worth $77,000 after purchasing an additional 4,926 shares during the period. Marshall Wace LLP acquired a new position in Alumis in the 4th quarter worth about $108,000. Finally, XTX Topco Ltd acquired a new position in Alumis in the 4th quarter worth about $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.

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