Alumis Inc. (NASDAQ:ALMS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $26.83.

Several equities analysts have commented on ALMS shares. HC Wainwright lowered their target price on shares of Alumis from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Robert W. Baird began coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th. Finally, Baird R W upgraded Alumis to a “strong-buy” rating in a report on Thursday, October 31st.

Hedge Funds Weigh In On Alumis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Samsara BioCapital LLC bought a new position in shares of Alumis in the third quarter valued at approximately $34,886,000. SR One Capital Management LP bought a new position in Alumis in the 2nd quarter valued at $26,067,000. Yu Fan acquired a new position in Alumis in the second quarter worth $10,502,000. Ally Bridge Group NY LLC bought a new stake in shares of Alumis during the second quarter worth $8,229,000. Finally, Towerview LLC increased its stake in shares of Alumis by 22.6% in the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after buying an additional 70,000 shares in the last quarter.

Alumis Stock Up 2.7 %

NASDAQ:ALMS opened at $8.73 on Friday. The firm’s 50 day moving average is $10.41. Alumis has a 12-month low of $7.66 and a 12-month high of $13.53.

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.