Alumis (NASDAQ:ALMS) Trading 3.1% Higher – What’s Next?

Shares of Alumis Inc. (NASDAQ:ALMS) traded up 3.1% during trading on Monday . The stock traded as high as $12.41 and last traded at $12.40. 14,687 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 168,356 shares. The stock had previously closed at $12.03.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALMS shares. HC Wainwright started coverage on shares of Alumis in a research report on Thursday. They set a “buy” rating and a $30.00 target price for the company. Guggenheim began coverage on Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective for the company. 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 on the stock. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley assumed coverage on Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.00.

Alumis Trading Up 4.6 %

The company’s fifty day moving average price is $11.64.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data 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, equities analysts predict that Alumis Inc. will post -6.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SR One Capital Management LP bought a new stake in shares of Alumis in the 2nd quarter worth about $26,067,000. Yu Fan bought a new stake in Alumis in the second quarter worth about $10,502,000. Ally Bridge Group NY LLC purchased a new position in shares of Alumis during the second quarter valued at approximately $8,229,000. Towerview LLC bought a new position in shares of Alumis during the second quarter valued at approximately $4,123,000. Finally, Millennium Management LLC purchased a new stake in shares of Alumis in the second quarter worth approximately $3,376,000.

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.