Alumis Inc. (NASDAQ:ALMS) Given Average Rating of “Buy” by Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have been given an average recommendation of “Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.83.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $26.00 target price on shares of Alumis in a research note on Friday, December 20th. Robert W. Baird initiated coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price objective on the stock. Baird R W raised Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th.

Institutional Investors Weigh In On Alumis

A number of hedge funds have recently added to or reduced their stakes in the stock. SR One Capital Management LP acquired a new stake in shares of Alumis in the 2nd quarter worth about $26,067,000. Ally Bridge Group NY LLC bought a new position in Alumis in the 2nd quarter worth about $8,229,000. Yu Fan acquired a new stake in shares of Alumis in the second quarter valued at approximately $10,502,000. Millennium Management LLC bought a new stake in shares of Alumis during the second quarter valued at approximately $3,376,000. Finally, Maven Securities LTD acquired a new position in shares of Alumis during the second quarter worth approximately $332,000.

Alumis Stock Performance

ALMS opened at $8.45 on Tuesday. Alumis has a 12-month low of $7.46 and a 12-month high of $13.53. The company has a fifty day moving average of $9.48.

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.