Free Trial

Alumis (NASDAQ:ALMS) Given "Buy" Rating at HC Wainwright

Alumis logo with Medical background

Key Points

  • HC Wainwright has reiterated a "buy" rating for Alumis (NASDAQ:ALMS) with a price objective of $14.00, indicating a potential upside of 262.69% from its current price.
  • Alumis recently reported a quarterly loss of ($1.82) EPS, missing analysts' consensus estimates by $0.35, and is projected to have an average EPS of -8.51 for the current fiscal year.
  • Insiders, including Director Srinivas Akkaraju, have recently purchased shares of Alumis, indicating a 4.68% increase in their holdings and reflecting industry confidence in the company's outlook.
  • MarketBeat previews the top five stocks to own by August 1st.
  • Limited Time Offer: Unlock powerful research tools, advanced financial data, and expert insights to help you invest with confidence. Save 50% when you upgrade to MarketBeat All Access during the month of July. Claim your discount here.

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.

Read More

Analyst Recommendations for Alumis (NASDAQ:ALMS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Alumis Right Now?

Before you consider Alumis, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alumis wasn't on the list.

While Alumis currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines