Alumis Inc. (NASDAQ:ALMS) Receives $22.86 Consensus PT from Analysts

Alumis Inc. (NASDAQ:ALMS - Get Free Report) has been assigned an average recommendation of "Buy" from the nine ratings firms that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.86.

Several analysts have issued reports on ALMS shares. 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. Guggenheim upgraded shares of Alumis to a "buy" rating and set a $18.00 price target for the company in a research report on Tuesday, June 10th. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Alumis in a research report on Wednesday, April 30th.

Insider Transactions at Alumis

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

Institutional Trading of Alumis

A number of hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its position in Alumis by 21.7% in the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock valued at $102,000 after buying an additional 2,949 shares during the last quarter. Corebridge Financial Inc. boosted its stake in shares of Alumis by 53.0% in the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock worth $65,000 after acquiring an additional 3,693 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Alumis by 77.1% during 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 during the period. Northern Trust Corp grew its holdings in Alumis by 4.3% during the 4th quarter. Northern Trust Corp now owns 111,326 shares of the company's stock worth $875,000 after acquiring an additional 4,587 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alumis by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock worth $891,000 after acquiring an additional 4,808 shares during the period.

Alumis Trading Down 0.3%

Alumis stock traded down $0.01 during trading hours on Friday, hitting $3.31. The stock had a trading volume of 343,126 shares, compared to its average volume of 446,037. The company has a 50-day moving average of $3.71 and a two-hundred day moving average of $5.11. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $13.50.

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