Alumis (NASDAQ:ALMS) Raised to Hold at Wall Street Zen

Key Points

• Alumis (NASDAQ:ALMS) received an upgrade from Wall Street Zen, shifting from a "strong sell" to a "hold" rating in their latest report.
• Out of recent analyst ratings, Alumis has seven buy ratings and one strong buy, with a consensus target price of $20.17.
• The company's recent quarterly earnings report showed a loss of ($1.17) per share, which fell short of expectations, despite revenue surpassing estimates at $2.67 million.

Wall Street Zen upgraded shares of Alumis (NASDAQ:ALMS - Free Report) from a strong sell rating to a hold rating in a report published on Saturday morning.

A number of other analysts have also recently weighed in on ALMS. Morgan Stanley lowered their price objective on Alumis from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday. Guggenheim upgraded shares of Alumis to a "buy" rating and set a $18.00 target price for the company in a research note on Tuesday, June 10th. Oppenheimer decreased their target price on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Wells Fargo & Company started coverage on shares of Alumis in a research note on Friday, July 25th. They set an "overweight" rating and a $17.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $14.00 target price on shares of Alumis in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $20.17.

Alumis Price Performance

Shares of Alumis stock traded up $0.36 during midday trading on Friday, reaching $4.75. The company had a trading volume of 865,122 shares, compared to its average volume of 762,621. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $13.11. The stock has a fifty day moving average price of $3.59 and a 200 day moving average price of $4.65.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.06). The business had revenue of $2.67 million during the quarter, compared to analyst estimates of $1.80 million. As a group, research analysts expect that Alumis will post -8.51 EPS for the current year.

Institutional Investors Weigh In On Alumis

Large investors have recently bought and sold shares of the stock. Kera Capital Partners Inc. acquired a new position in Alumis in the second quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company's stock valued at $32,000 after acquiring an additional 7,165 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company's stock valued at $35,000 after buying an additional 7,467 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Alumis during the second quarter worth approximately $36,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Alumis in the second quarter valued at approximately $40,000.

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.