Alumis (NASDAQ:ALMS) Earns Buy Rating from HC Wainwright

Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright's price objective indicates a potential upside of 205.01% from the stock's previous close.

ALMS has been the topic of a number of other reports. Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a research report on Thursday, March 20th. Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They set an "outperform" rating and a $32.00 target price for the company. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alumis has an average rating of "Buy" and an average price target of $25.86.

Alumis Price Performance

Shares of NASDAQ ALMS traded up $0.76 during midday trading on Wednesday, reaching $4.59. 906,664 shares of the stock were exchanged, compared to its average volume of 318,296. The firm has a 50-day simple moving average of $5.41 and a two-hundred day simple moving average of $7.44. Alumis has a twelve month low of $3.18 and a twelve month high of $13.53.

Insider Transactions at Alumis

In related news, Director Alan Colowick bought 16,104 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was bought at an average cost of $6.97 per share, for a total transaction of $112,244.88. Following the acquisition, the director now directly owns 16,104 shares in the company, valued at $112,244.88. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martin Babler bought 15,650 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was bought 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 directly owns 106,454 shares in the company, valued at approximately $685,563.76. The trade was a 17.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Alumis

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

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.