Alumis (NASDAQ:ALMS) Upgraded at Guggenheim

Guggenheim upgraded shares of Alumis (NASDAQ:ALMS) to a buy rating in a research report released on Tuesday morning, MarketBeat reports. They currently have $18.00 price objective on the stock.

A number of other analysts have also recently commented on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Oppenheimer cut their price objective on Alumis from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $22.86.

Alumis Price Performance

Alumis stock opened at $3.18 on Tuesday. The firm’s 50 day simple moving average is $4.78 and its 200-day simple moving average is $6.10. Alumis has a fifty-two week low of $3.15 and a fifty-two week high of $13.53.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data 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, analysts forecast that Alumis will post -8.51 EPS for the current year.

Insider Buying and Selling

In other news, CEO Martin Babler acquired 15,650 shares of Alumis stock in a transaction on Tuesday, April 1st. The shares were bought at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the acquisition, the chief executive officer now directly owns 106,454 shares of the company’s stock, valued at $685,563.76. This trade represents a 17.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Foresite Labs, Llc purchased 20,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $4.34 per share, with a total value of $86,800.00. Following the transaction, the insider now owns 4,247,670 shares in the company, valued at $18,434,887.80. This trade represents a 0.47% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 397,044 shares of company stock worth $1,891,895 in the last ninety days.

Institutional Trading of Alumis

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in Alumis by 21.7% in the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares in the last quarter. Jane Street Group LLC bought a new stake in Alumis in the first quarter valued at about $111,000. Goldman Sachs Group Inc. grew its holdings in shares of Alumis by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after purchasing an additional 4,926 shares during the last quarter. Finally, Corebridge Financial Inc. grew its holdings in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after purchasing an additional 3,693 shares during the last quarter.

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.