Brokerages Set Alumis Inc. (NASDAQ:ALMS) Price Target at $26.00

Shares of Alumis Inc. (NASDAQ:ALMS) have earned an average recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.00.

Several research firms have recently issued reports on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Alumis in a report on Wednesday, March 26th. Finally, Oppenheimer began coverage on Alumis in a research report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target on the stock.

Alumis Stock Performance

NASDAQ:ALMS opened at $6.48 on Thursday. The stock’s 50-day moving average is $5.63 and its 200-day moving average is $8.06. Alumis has a 1-year low of $3.18 and a 1-year high of $13.53.

Insiders Place Their Bets

In related news, Director Alan Colowick acquired 16,104 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average price of $6.97 per share, for a total transaction of $112,244.88. Following the completion of the acquisition, the director now owns 16,104 shares of the company’s stock, valued at approximately $112,244.88. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin Babler acquired 15,650 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were bought at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the transaction, the chief executive officer now directly owns 106,454 shares in the company, valued at approximately $685,563.76. This represents a 17.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Alumis

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Alumis in the 3rd quarter worth $27,000. Wells Fargo & Company MN increased its stake in Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after purchasing an additional 3,823 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Alumis during the fourth quarter worth $79,000. MetLife Investment Management LLC acquired a new position in Alumis during the third quarter worth $89,000. Finally, Rhumbline Advisers lifted its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares in the last quarter.

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.