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

Alumis (NASDAQ:ALMS)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports.

Other research analysts have also issued reports about the company. HC Wainwright cut their target price on Alumis from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Guggenheim began coverage on Alumis in a report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company. Robert W. Baird began coverage on shares of Alumis in a report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

NASDAQ ALMS opened at $10.81 on Thursday. The company’s 50-day moving average is $11.36. Alumis has a 12 month low of $9.54 and a 12 month high of $13.53.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). On average, analysts expect that Alumis will post -8 earnings per share for the current fiscal year.

Institutional Trading of Alumis

Hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new position in shares of Alumis in the third quarter valued at $89,000. BNP Paribas Financial Markets purchased a new stake in Alumis during the 3rd quarter worth approximately $27,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Alumis during the 3rd quarter valued at approximately $1,160,000. Towerview LLC boosted its stake in Alumis by 22.6% during the 3rd quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Maven Securities LTD acquired a new position in Alumis during the 2nd quarter worth $332,000.

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.