Chardan Capital Begins Coverage on Alumis (NASDAQ:ALMS)

Analysts at Chardan Capital began coverage on shares of Alumis (NASDAQ:ALMS) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $37.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 38.68% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ALMS. HC Wainwright reissued a “buy” rating and set a $40.00 target price (up previously from $20.00) on shares of Alumis in a report on Friday, January 9th. Guggenheim lifted their price objective on shares of Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. UBS Group restated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Leerink Partners lifted their price target on shares of Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Loop Capital set a $37.00 price target on Alumis in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.50.

Alumis Trading Up 2.4%

Alumis stock opened at $26.68 on Wednesday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -6.59 and a beta of -2.09. Alumis has a 12 month low of $2.76 and a 12 month high of $27.20. The stock’s 50 day moving average is $12.28 and its 200-day moving average is $7.10.

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

Insider Activity

In other news, Director James B. Tananbaum purchased 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the director owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Srinivas Akkaraju acquired 588,235 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the purchase, the director directly owned 1,853,488 shares of the company’s stock, valued at $31,509,296. The trade was a 46.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 4,612,402 shares of company stock worth $49,352,316. Insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

Several institutional investors and hedge funds have recently modified their holdings of the business. Samsara Biocapital LLC grew its position in Alumis by 47.0% in the second quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after acquiring an additional 1,534,872 shares during the last quarter. Foresite Capital Management VI LLC boosted its stake in shares of Alumis by 1.1% in the 2nd quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after purchasing an additional 45,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Trium Capital LLP increased its position in Alumis by 17.9% during the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after purchasing an additional 474,072 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Alumis in the 2nd quarter valued at approximately $5,779,000.

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.