Alumis (NASDAQ:ALMS) Price Target Raised to $38.00

Alumis (NASDAQ:ALMS) had its target price hoisted by investment analysts at Morgan Stanley from $33.00 to $38.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 49.72% from the company’s current price.

ALMS has been the topic of several other reports. Guggenheim increased their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of Alumis in a research 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. Finally, Raymond James Financial began coverage on Alumis in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

Alumis Trading Down 0.2%

Shares of NASDAQ:ALMS opened at $25.38 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of -6.27 and a beta of -2.15. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60. The business has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $13.58.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The firm had revenue of $1.93 million for the quarter, compared to the consensus estimate of $2.75 million. As a group, equities analysts predict that Alumis will post -8.51 EPS for the current year.

Insider Activity

In other news, Director James B. Tananbaum bought 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the acquisition, the director owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Foresite Labs, Llc purchased 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ieq Capital LLC increased its holdings in shares of Alumis by 4.1% in the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after acquiring an additional 690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alumis by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after purchasing an additional 979 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Alumis by 12.4% in the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after purchasing an additional 1,618 shares during the period. Stoneridge Investment Partners LLC grew its position in shares of Alumis by 8.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock valued at $118,000 after purchasing an additional 2,210 shares during the period. Finally, Rhumbline Advisers increased its stake in Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares in the last quarter.

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.