Alumis (NASDAQ:ALMS) Research Coverage Started at Morgan Stanley

Morgan Stanley began coverage on shares of Alumis (NASDAQ:ALMS) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $36.00 price objective on the stock.

Alumis Price Performance

Shares of ALMS opened at $12.50 on Tuesday. Alumis has a 12-month low of $10.45 and a 12-month high of $13.53.

Institutional Investors Weigh In On Alumis

A hedge fund recently bought a new stake in Alumis stock. Towerview LLC purchased a new stake in Alumis Inc. (NASDAQ:ALMS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 310,000 shares of the company’s stock, valued at approximately $4,123,000. Alumis comprises approximately 2.7% of Towerview LLC’s holdings, making the stock its 8th largest position. Towerview LLC owned about 0.66% of Alumis as of its most recent SEC filing.

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.