HC Wainwright Reiterates Buy Rating for Alumis (NASDAQ:ALMS)

HC Wainwright reiterated their buy rating on shares of Alumis (NASDAQ:ALMS) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $15.00 price target on the stock, down from their previous price target of $19.00.

Separately, Oppenheimer initiated coverage on shares of Alumis in a research note on Thursday, January 30th. They set an “outperform” rating and a $32.00 price objective for the company. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.00.

Alumis Stock Up 5.0 %

Shares of NASDAQ ALMS opened at $3.75 on Thursday. Alumis has a 12-month low of $3.18 and a 12-month high of $13.53. The company has a 50-day moving average of $5.69 and a 200 day moving average of $8.56.

Institutional Trading of Alumis

Several hedge funds have recently made changes to their positions in ALMS. BNP Paribas Financial Markets purchased a new stake in shares of Alumis in the 3rd quarter valued at approximately $27,000. Wells Fargo & Company MN grew its stake in shares of Alumis by 77.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after buying an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Alumis in the 4th quarter valued at approximately $79,000. MetLife Investment Management LLC acquired a new position in shares of Alumis in the 3rd quarter worth approximately $89,000. Finally, Marshall Wace LLP acquired a new position in shares of Alumis in the 4th quarter worth approximately $108,000.

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.