Alumis (NASDAQ:ALMS) Price Target Raised to $32.00

Alumis (NASDAQ:ALMS) had its target price hoisted by Guggenheim from $18.00 to $32.00 in a report issued on Wednesday morning, Marketbeat reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. UBS Group reissued an “outperform” rating on shares of Alumis in a research note on Tuesday. Citigroup reissued an “outperform” rating on shares of Alumis in a research note on Tuesday. Morgan Stanley increased their price target on Alumis from $22.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of Alumis in a research note on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alumis presently has an average rating of “Moderate Buy” and an average target price of $37.67.

Alumis Stock Performance

NASDAQ:ALMS opened at $19.56 on Wednesday. Alumis has a 52 week low of $2.76 and a 52 week high of $22.30. The firm’s fifty day moving average is $9.21 and its 200-day moving average is $5.91. The firm has a market cap of $2.04 billion, a P/E ratio of -4.83 and a beta of -2.09.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, sell-side analysts anticipate that Alumis will post -8.51 earnings per share for the current year.

Insider Buying and Selling at Alumis

In other Alumis news, Director Srinivas Akkaraju acquired 276,179 shares of Alumis stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $1,449,939.75. Following the completion of the acquisition, the director directly owned 276,179 shares of the company’s stock, valued at $1,449,939.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Foresite Labs, Llc bought 200,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the completion of the transaction, the insider owned 2,234,129 shares of the company’s stock, valued at $12,488,781.11. This represents a 9.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,788,875 shares of company stock valued at $18,352,357 over the last ninety days. 40.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares during the last quarter. CWM LLC boosted its holdings in Alumis by 1,028.7% during the third quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after purchasing an additional 9,464 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Alumis in the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after buying an additional 7,165 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after buying an additional 7,467 shares during the last quarter.

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.