Alumis Inc. (NASDAQ:ALMS) Receives Consensus Recommendation of “Buy” from Analysts

Alumis Inc. (NASDAQ:ALMS) has been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.83.

A number of research analysts recently weighed in on ALMS shares. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of Alumis in a research note on Monday. Baird R W upgraded Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. 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 for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th.

Alumis Stock Up 4.0 %

NASDAQ:ALMS opened at $8.79 on Tuesday. Alumis has a fifty-two week low of $7.46 and a fifty-two week high of $13.53. The business’s fifty day moving average is $9.48.

Hedge Funds Weigh In On Alumis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in shares of Alumis during the 3rd quarter worth $191,000. Barclays PLC acquired a new stake in Alumis during the third quarter worth about $197,000. Geode Capital Management LLC purchased a new position in Alumis during the third quarter worth about $3,266,000. State Street Corp acquired a new position in Alumis in the 3rd quarter valued at about $866,000. Finally, Stifel Financial Corp purchased a new stake in shares of Alumis in the 3rd quarter valued at approximately $931,000.

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.