Alumis (NASDAQ:ALMS) Price Target Cut to $26.00 by Analysts at HC Wainwright

Alumis (NASDAQ:ALMS) had its price objective lowered by HC Wainwright from $30.00 to $26.00 in a research note released on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Guggenheim started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Robert W. Baird assumed coverage on shares of Alumis in a research note on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target for the company. Finally, Leerink Partners assumed coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $26.83.

Alumis Price Performance

Alumis stock traded down $0.22 during mid-day trading on Thursday, reaching $9.19. The company had a trading volume of 154,797 shares, compared to its average volume of 151,367. The company has a fifty day moving average of $11.29. Alumis has a fifty-two week low of $8.23 and a fifty-two week high of $13.53.

Alumis (NASDAQ:ALMS) last announced its earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). On average, analysts expect that Alumis will post -8 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently bought and sold shares of ALMS. State Street Corp purchased a new position in Alumis in the 3rd quarter valued at $866,000. Stifel Financial Corp acquired a new position in Alumis in the 3rd quarter valued at about $931,000. Samsara BioCapital LLC acquired a new position in shares of Alumis during the third quarter worth about $34,886,000. Maven Securities LTD boosted its holdings in Alumis by 100.0% in the third quarter. Maven Securities LTD now owns 50,000 shares of the company’s stock valued at $534,000 after purchasing an additional 25,000 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Alumis during the third quarter worth approximately $89,000.

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.