Alumis (NASDAQ:ALMS) Reaches New 12-Month Low at $10.37

Alumis Inc. (NASDAQ:ALMS)’s stock price reached a new 52-week low on Monday . The company traded as low as $10.37 and last traded at $10.97, with a volume of 91804 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Leerink Partners started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Monday, August 19th. Morgan Stanley initiated coverage on Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price on the stock. Guggenheim assumed coverage on Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target for the company. Finally, Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.50.

Alumis Trading Down 4.7 %

The firm has a 50 day moving average price of $12.33.

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 analysts’ consensus estimates of ($1.57) by ($21.53). Analysts anticipate that Alumis Inc. will post -6.86 EPS for the current year.

Hedge Funds Weigh In On Alumis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALMS. Millennium Management LLC purchased a new stake in shares of Alumis during the second quarter worth about $3,376,000. Maven Securities LTD acquired a new stake in Alumis in the 2nd quarter worth about $332,000. Yu Fan purchased a new stake in Alumis during the 2nd quarter worth approximately $10,502,000. Ally Bridge Group NY LLC acquired a new position in shares of Alumis during the second quarter valued at approximately $8,229,000. Finally, SR One Capital Management LP acquired a new position in shares of Alumis during the second quarter valued at approximately $26,067,000.

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.