Alumis (NASDAQ:ALMS) Given New $38.00 Price Target at Morgan Stanley

Alumis (NASDAQ:ALMS) had its price target increased by Morgan Stanley from $33.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Raymond James Financial initiated coverage on Alumis in a research report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 target price on the stock. Loop Capital set a $37.00 price target on Alumis in a report on Wednesday, January 21st. UBS Group restated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Citigroup restated an “outperform” rating on shares of Alumis in a report on Tuesday, January 6th. Finally, Guggenheim increased their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

Alumis Trading Down 1.2%

NASDAQ ALMS opened at $25.07 on Friday. The firm’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $13.72. The firm has a market capitalization of $2.62 billion, a P/E ratio of -8.19 and a beta of -2.15. Alumis has a 12-month low of $2.76 and a 12-month high of $30.60.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The business had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 113.18%. As a group, sell-side analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In other news, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James B. Tananbaum acquired 411,764 shares of Alumis stock in a transaction dated Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the purchase, the director owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,823,527 shares of company stock valued at $30,999,959 over the last three months. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently bought and sold shares of ALMS. Russell Investments Group Ltd. lifted its stake in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after acquiring an additional 7,165 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Alumis during the second quarter worth $40,000. Finally, CWM LLC lifted its position in Alumis by 1,028.7% during the third quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after purchasing an additional 9,464 shares during the period.

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.