Alumis (NASDAQ:ALMS - Get Free Report) was upgraded by Guggenheim to a "buy" rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $18.00 price objective on the stock. Guggenheim's target price indicates a potential upside of 473.25% from the company's previous close.
Other analysts have also issued research reports about the company. Oppenheimer cut their price objective on Alumis from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alumis in a report on Thursday, March 20th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Alumis in a report on Wednesday, April 30th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $22.86.
View Our Latest Analysis on ALMS
Alumis Trading Down 1.3%
Shares of Alumis stock traded down $0.04 on Tuesday, hitting $3.14. The company had a trading volume of 637,610 shares, compared to its average volume of 401,839. The business has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $6.10. Alumis has a 52 week low of $3.11 and a 52 week high of $13.53.
Alumis (NASDAQ:ALMS - Get Free Report) last released its 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, equities research analysts expect that Alumis will post -8.51 EPS for the current fiscal year.
Insider Transactions at Alumis
In other news, CEO Martin Babler bought 15,650 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was bought at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Srinivas Akkaraju bought 160,370 shares of the company's stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $4.67 per share, for a total transaction of $748,927.90. Following the completion of the transaction, the director now owns 3,586,788 shares of the company's stock, valued at $16,750,299.96. This represents a 4.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 397,044 shares of company stock valued at $1,891,895 in the last three months.
Institutional Investors Weigh In On Alumis
A number of large investors have recently made changes to their positions in the company. Foresite Capital Management V LLC boosted its stake in Alumis by 3.5% in the 4th quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company's stock worth $45,426,000 after purchasing an additional 194,459 shares during the period. Foresite Capital Management VI LLC purchased a new stake in shares of Alumis in the fourth quarter valued at $33,033,000. Tang Capital Management LLC boosted its position in shares of Alumis by 40.6% in the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company's stock worth $4,716,000 after buying an additional 173,406 shares during the period. Ally Bridge Group NY LLC grew its holdings in shares of Alumis by 6.4% during the fourth quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company's stock valued at $3,500,000 after buying an additional 26,843 shares in the last quarter. Finally, Towerview LLC grew its holdings in shares of Alumis by 3.6% during the first quarter. Towerview LLC now owns 430,000 shares of the company's stock valued at $2,640,000 after buying an additional 15,000 shares in the last quarter.
About Alumis
(
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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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