Brokerages Set Alumis Inc. (NASDAQ:ALMS) Price Target at $26.57

Alumis Inc. (NASDAQ:ALMS) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.00.

ALMS has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on shares of Alumis in a report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target (down previously from $19.00) on shares of Alumis in a report on Thursday.

Alumis Price Performance

ALMS stock opened at $3.75 on Friday. Alumis has a 52 week low of $3.18 and a 52 week high of $13.53. The company’s 50-day moving average price is $5.69 and its 200 day moving average price is $8.56.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently modified their holdings of ALMS. Foresite Capital Management VI LLC acquired a new position in shares of Alumis in the fourth quarter valued at approximately $33,033,000. Samsara BioCapital LLC acquired a new position in shares of Alumis in the third quarter valued at approximately $34,886,000. Geode Capital Management LLC acquired a new position in shares of Alumis in the third quarter valued at approximately $3,266,000. Norges Bank acquired a new position in shares of Alumis in the fourth quarter valued at approximately $1,606,000. Finally, Foresite Capital Management V LLC raised its position in shares of Alumis by 3.5% in the fourth quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company’s stock valued at $45,426,000 after buying an additional 194,459 shares during 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.