Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $38.60

Shares of Alumis Inc. (NASDAQ:ALMS) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.30.

A number of brokerages have issued reports on ALMS. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research note on Friday, May 15th. Wells Fargo & Company upped their price objective on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Stifel Nicolaus started coverage on shares of Alumis in a research note on Wednesday, February 25th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Raymond James Financial assumed coverage on shares of Alumis in a report on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALMS. MPM Bioimpact LLC purchased a new stake in Alumis in the fourth quarter valued at $23,443,000. Janus Henderson Group PLC purchased a new position in shares of Alumis during the 1st quarter worth $46,790,000. Orbimed Advisors LLC purchased a new position in shares of Alumis during the 2nd quarter worth $5,779,000. Woodline Partners LP increased its position in shares of Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after purchasing an additional 1,558,660 shares during the last quarter. Finally, Samsara Biocapital LLC raised its holdings in Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after buying an additional 1,534,872 shares during the period.

Alumis Price Performance

ALMS opened at $22.17 on Friday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -11.20 and a beta of -0.31. The company’s 50 day simple moving average is $23.99 and its two-hundred day simple moving average is $19.56. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The company had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. On average, equities analysts anticipate that Alumis will post -2.89 earnings per share for the current fiscal year.

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.