Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $14.00 price objective on the stock. HC Wainwright's price target suggests a potential upside of 262.69% from the stock's current price.
A number of other equities research analysts have also weighed in on ALMS. Oppenheimer lowered their price target on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Guggenheim raised shares of Alumis to a "buy" rating and set a $18.00 price target for the company in a report on Tuesday, June 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $20.50.
Get Our Latest Analysis on Alumis
Alumis Price Performance
Alumis stock opened at $3.86 on Friday. Alumis has a 52-week low of $2.76 and a 52-week high of $13.20. The firm has a fifty day moving average of $3.60 and a 200-day moving average of $5.02.
Alumis (NASDAQ:ALMS - Get Free Report) last released 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). On average, sell-side analysts predict that Alumis will post -8.51 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Srinivas Akkaraju acquired 160,370 shares of Alumis stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $4.67 per share, for a total transaction of $748,927.90. Following the purchase, the director directly owned 3,586,788 shares of the company's stock, valued at $16,750,299.96. The trade was 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 this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 25,000 shares of Alumis stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $4.62 per share, for a total transaction of $115,500.00. Following the completion of the purchase, the insider directly owned 4,227,670 shares in the company, valued at $19,531,835.40. The trade was a 0.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 365,290 shares of company stock worth $1,678,864 over the last quarter. 40.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after acquiring an additional 3,823 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of Alumis in the 2nd quarter worth about $32,000. Corebridge Financial Inc. lifted its position in shares of Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock worth $65,000 after buying an additional 3,693 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 buying an additional 4,926 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Alumis in the 4th quarter worth about $108,000.
Alumis Company Profile
(
Get Free Report)
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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