Alumis (NASDAQ:ALMS) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of Alumis (NASDAQ:ALMS) to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $18.00 target price on the stock.

Several other equities research analysts have also recently commented on ALMS. Oppenheimer cut their price objective on shares of Alumis from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.86.

Alumis Trading Down 3.3%

NASDAQ ALMS opened at $3.18 on Tuesday. The firm has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $6.10. Alumis has a twelve month low of $3.15 and a twelve month high of $13.53.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.47) by ($0.35). As a group, sell-side analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In other Alumis news, CEO Martin Babler bought 15,650 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were bought at an average price of $6.44 per share, with a total value of $100,786.00. Following the purchase, the chief executive officer now owns 106,454 shares of the company’s stock, valued at $685,563.76. This trade represents a 17.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Colowick purchased 16,104 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were purchased at an average price of $6.97 per share, with a total value of $112,244.88. Following the acquisition, the director now directly owns 16,104 shares in the company, valued at $112,244.88. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 397,044 shares of company stock valued at $1,891,895 in the last quarter.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares during the period. Corebridge Financial Inc. lifted its position in shares of Alumis by 53.0% in the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares in the last quarter. Wells Fargo & Company MN lifted its position in Alumis by 77.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock worth $69,000 after buying an additional 3,823 shares in the last quarter. Northern Trust Corp lifted its position in Alumis by 4.3% during the fourth quarter. Northern Trust Corp now owns 111,326 shares of the company’s stock worth $875,000 after buying an additional 4,587 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alumis by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company’s stock worth $891,000 after acquiring an additional 4,808 shares during the last quarter.

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.