Alumis Inc. (NASDAQ:ALMS) Receives $26.83 Average Price Target from Brokerages

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

Several research firms recently weighed in on ALMS. 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. HC Wainwright dropped their target price on shares of Alumis from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Baird R W upgraded shares of Alumis to a “strong-buy” rating in a report on Thursday, October 31st.

Alumis Trading Down 2.6 %

NASDAQ:ALMS opened at $8.39 on Friday. The firm has a fifty day moving average of $10.47. Alumis has a twelve month low of $7.66 and a twelve month high of $13.53.

Institutional Trading of Alumis

A number of hedge funds have recently modified their holdings of ALMS. BNP Paribas Financial Markets purchased a new position in shares of Alumis in the 3rd quarter worth about $27,000. MetLife Investment Management LLC purchased a new position in shares of Alumis in the 3rd quarter worth about $89,000. Barclays PLC purchased a new position in shares of Alumis in the 3rd quarter worth about $197,000. Maven Securities LTD purchased a new position in shares of Alumis in the 2nd quarter worth about $332,000. Finally, State Street Corp purchased a new position in shares of Alumis in the 3rd quarter worth about $866,000.

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.