Alumis (NASDAQ:ALMS) Receives Buy Rating from HC Wainwright

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 207.69% from the stock’s current price.

ALMS has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird assumed coverage on Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $26.83.

Alumis Stock Performance

Shares of ALMS stock opened at $8.45 on Monday. The company’s 50-day moving average is $9.48. Alumis has a 1-year low of $7.46 and a 1-year high of $13.53.

Hedge Funds Weigh In On Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALMS. BNP Paribas Financial Markets purchased a new stake in Alumis during the 3rd quarter valued at about $27,000. MetLife Investment Management LLC purchased a new stake in Alumis in the third quarter valued at approximately $89,000. JPMorgan Chase & Co. acquired a new position in Alumis in the 3rd quarter worth approximately $191,000. Barclays PLC purchased a new position in Alumis during the 3rd quarter worth approximately $197,000. Finally, Maven Securities LTD acquired a new stake in Alumis during the 2nd quarter valued at approximately $332,000.

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.