Alumis’ (ALMS) Overweight Rating Reaffirmed at Cantor Fitzgerald

Alumis (NASDAQ:ALMS)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports.

Several other analysts also recently issued reports on ALMS. SVB Leerink started coverage on Alumis in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price target for the company. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Guggenheim began coverage on shares of Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alumis currently has a consensus rating of “Buy” and a consensus target price of $27.50.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $13.00 on Monday. Alumis has a 1 year low of $10.45 and a 1 year high of $13.53.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in shares of Alumis in the second quarter valued at approximately $3,376,000. Towerview LLC acquired a new position in Alumis during the 2nd quarter valued at $4,123,000. Ally Bridge Group NY LLC bought a new stake in Alumis in the 2nd quarter valued at $8,229,000. Yu Fan acquired a new stake in Alumis in the 2nd quarter worth $10,502,000. Finally, SR One Capital Management LP bought a new position in shares of Alumis during the 2nd quarter worth about $26,067,000.

Alumis Company Profile

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.