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

Alumis Inc. (NASDAQ:ALMS - Get Free Report) has received a consensus recommendation of "Buy" from the nine research firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $22.86.

A number of brokerages recently weighed in on ALMS. Oppenheimer dropped their price target on Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Alumis in a research note on Wednesday, April 30th. Finally, Guggenheim raised Alumis to a "buy" rating and set a $18.00 price target on the stock in a research note on Tuesday, June 10th.

Insider Activity at Alumis

In other news, Director Srinivas Akkaraju purchased 160,370 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $4.67 per share, with a total value of $748,927.90. Following the purchase, the director owned 3,586,788 shares in the company, valued at $16,750,299.96. This represents a 4.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foresite Labs, Llc purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $4.34 per share, with a total value of $86,800.00. Following the purchase, the insider owned 4,247,670 shares in the company, valued at $18,434,887.80. This represents a 0.47% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 365,290 shares of company stock valued at $1,678,864. 40.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alumis

Several large investors have recently made changes to their positions in the company. Foresite Capital Management V LLC grew its stake in shares of Alumis by 3.5% in the 4th quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company's stock valued at $45,426,000 after buying an additional 194,459 shares in the last quarter. Foresite Capital Management VI LLC acquired a new stake in Alumis in the 4th quarter worth approximately $33,033,000. Tang Capital Management LLC lifted its holdings in Alumis by 40.6% in the 4th 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. Ally Bridge Group NY LLC lifted its holdings in Alumis by 6.4% in the 4th quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company's stock worth $3,500,000 after purchasing an additional 26,843 shares during the last quarter. Finally, Towerview LLC lifted its holdings in Alumis by 3.6% in the 1st quarter. Towerview LLC now owns 430,000 shares of the company's stock worth $2,640,000 after purchasing an additional 15,000 shares during the last quarter.

Alumis Trading Down 5.1%

Shares of Alumis stock opened at $3.33 on Friday. The company's 50-day moving average price is $3.71 and its two-hundred day moving average price is $5.15. Alumis has a 52 week low of $2.76 and a 52 week high of $13.50.

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

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