Morgan Stanley Begins Coverage on Alumis (NASDAQ:ALMS)

Morgan Stanley started coverage on shares of Alumis (NASDAQ:ALMS) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $36.00 price target on the stock.

Alumis Price Performance

ALMS stock opened at $12.50 on Tuesday. Alumis has a twelve month low of $10.45 and a twelve month high of $13.53.

Institutional Trading of Alumis

A hedge fund recently bought a new stake in Alumis stock. Towerview LLC acquired a new position in shares of Alumis Inc. (NASDAQ:ALMS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 310,000 shares of the company’s stock, valued at approximately $4,123,000. Alumis comprises 2.7% of Towerview LLC’s investment portfolio, making the stock its 8th biggest position. Towerview LLC owned 0.66% of Alumis at the end of the most recent reporting 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.