Cantor Fitzgerald Reaffirms Overweight Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird initiated coverage on Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Morgan Stanley began coverage on Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price objective for the company. Baird R W raised Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Leerink Partners assumed coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Leerink Partnrs raised Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.83.

Alumis Stock Performance

ALMS opened at $8.85 on Thursday. Alumis has a 12 month low of $8.23 and a 12 month high of $13.53. The firm has a 50 day simple moving average of $11.29.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.57) by ($21.53). As a group, research analysts expect that Alumis will post -8 earnings per share for the current fiscal year.

Institutional Trading of Alumis

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in Alumis during the third quarter valued at $27,000. MetLife Investment Management LLC bought a new position in shares of Alumis in the third quarter worth about $89,000. Barclays PLC bought a new position in shares of Alumis in the third quarter worth about $197,000. Maven Securities LTD acquired a new stake in Alumis during the second quarter worth about $332,000. Finally, State Street Corp acquired a new stake in Alumis during the third quarter worth about $866,000.

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.