Alumis Inc. (NASDAQ:ALMS) Receives $26.83 Average PT from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $26.83.

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Robert W. Baird began coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of Alumis in a research note on Friday, December 20th. Finally, Baird R W raised Alumis to a “strong-buy” rating in a research note on Thursday, October 31st.

Hedge Funds Weigh In On Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of ALMS. Samsara BioCapital LLC purchased a new stake in Alumis during the third quarter valued at about $34,886,000. SR One Capital Management LP purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $26,067,000. Yu Fan purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC acquired a new position in Alumis in the 2nd quarter worth approximately $8,229,000. Finally, Towerview LLC grew its position in Alumis by 22.6% during the 3rd quarter. Towerview LLC now owns 380,000 shares of the company’s stock worth $4,058,000 after purchasing an additional 70,000 shares in the last quarter.

Alumis Price Performance

Shares of ALMS opened at $8.45 on Tuesday. The firm has a 50-day moving average of $9.48. Alumis has a 52-week low of $7.46 and a 52-week high of $13.53.

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.