HC Wainwright Cuts Alumis (NASDAQ:ALMS) Price Target to $26.00

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

A number of other equities research analysts also recently commented on ALMS. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 target price for the company. Leerink Partners started coverage on Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective for the company. Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Robert W. Baird initiated coverage on shares of Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $26.83.

Alumis Trading Down 6.0 %

Shares of NASDAQ ALMS opened at $8.85 on Thursday. The company’s 50-day moving average is $11.22. Alumis has a 52-week low of $8.23 and a 52-week high of $13.53.

Institutional Investors Weigh In On Alumis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Towerview LLC bought a new position in shares of Alumis in the second quarter worth approximately $4,123,000. SR One Capital Management LP bought a new position in Alumis in the 2nd quarter worth $26,067,000. Ally Bridge Group NY LLC purchased a new stake in Alumis in the 2nd quarter worth $8,229,000. Yu Fan bought a new stake in Alumis during the second quarter valued at about $10,502,000. Finally, Millennium Management LLC purchased a new position in shares of Alumis in the second quarter valued at about $3,376,000.

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.