Alumis Inc. (NASDAQ:ALMS) Receives $38.22 Consensus Target Price from Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $38.2222.

A number of brokerages have weighed in on ALMS. Morgan Stanley lifted their price objective on shares of Alumis from $22.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Leerink Partners raised their target price on shares of Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Guggenheim upped their target price on Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Stifel Nicolaus began coverage on shares of Alumis in a research note on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective on the stock.

Alumis Stock Down 4.3%

Shares of ALMS opened at $27.64 on Friday. Alumis has a twelve month low of $2.76 and a twelve month high of $30.60. The company has a 50 day moving average of $23.51 and a 200-day moving average of $12.09. The stock has a market capitalization of $2.89 billion, a P/E ratio of -6.82 and a beta of -2.15.

Insider Buying and Selling at Alumis

In other news, major shareholder Foresite Labs, Llc purchased 411,764 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Srinivas Akkaraju bought 588,235 shares of the stock in a transaction on Friday, January 9th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the purchase, the director owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. This trade represents a 46.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alumis

Hedge funds have recently bought and sold shares of the stock. Samsara Biocapital LLC increased its stake in Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock valued at $56,188,000 after acquiring an additional 955,614 shares during the last quarter. Foresite Capital Management VI LLC raised its position in Alumis by 1.1% during the 2nd quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after purchasing an additional 45,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alumis by 18.4% in the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after acquiring an additional 625,404 shares during the period. Cormorant Asset Management LP boosted its stake in shares of Alumis by 69.3% during the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares in the last quarter. Finally, Trium Capital LLP grew its holdings in shares of Alumis by 17.9% during the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after acquiring an additional 474,072 shares during the period.

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.