HC Wainwright Cuts Alumis (NASDAQ:ALMS) Price Target to $25.00

Alumis (NASDAQ:ALMS) had its price target reduced by investment analysts at HC Wainwright from $40.00 to $25.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 0.81% from the stock’s current price.

ALMS has been the topic of several other research reports. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Chardan Capital raised their price target on shares of Alumis from $37.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 20th. Guggenheim lifted their price objective on shares of Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Leerink Partners boosted their price objective on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Raymond James Financial initiated coverage on shares of Alumis in a research report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.10.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $24.80 on Monday. The firm has a 50 day moving average of $26.57 and a 200 day moving average of $14.56. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -8.10 and a beta of -2.15. Alumis has a 52 week low of $2.76 and a 52 week high of $30.60.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The company had revenue of $1.93 million during 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 116.97%. On average, sell-side analysts expect that Alumis will post -8.51 EPS for the current year.

Insider Activity at Alumis

In other news, major shareholder Foresite Labs, Llc bought 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The stock was bought at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the purchase, the insider directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju purchased 588,235 shares of the company’s stock in a transaction on Friday, January 9th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the purchase, the director owned 1,853,488 shares in the company, valued at approximately $31,509,296. The trade was a 46.49% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently bought and sold shares of ALMS. MPM Bioimpact LLC acquired a new stake in shares of Alumis in the fourth quarter worth $23,443,000. Orbimed Advisors LLC purchased a new stake in Alumis in the second quarter valued at $5,779,000. Velan Capital Investment Management LP acquired a new stake in Alumis during the 2nd quarter worth about $4,863,000. Woodline Partners LP raised its stake in shares of Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after buying an additional 1,558,660 shares during the last quarter. Finally, Samsara Biocapital LLC lifted its holdings in shares of Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after buying an additional 1,534,872 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.