Alumis (NASDAQ:ALMS) Price Target Raised to $38.00

Alumis (NASDAQ:ALMS) had its target price raised by Chardan Capital from $37.00 to $38.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the company. Loop Capital set a $37.00 price objective on Alumis in a report on Wednesday, January 21st. Citigroup reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Wells Fargo & Company boosted their target price on Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Morgan Stanley upped their price target on Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, Leerink Partners raised their price target on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

Alumis Trading Down 1.2%

Shares of NASDAQ ALMS opened at $25.07 on Friday. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60. The company has a 50-day moving average of $26.43 and a two-hundred day moving average of $13.85. The company has a market cap of $2.62 billion, a PE ratio of -8.19 and a beta of -2.16.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. As a group, equities research analysts forecast that Alumis will post -8.51 earnings per share for the current year.

Insider Buying and Selling at Alumis

In related news, major shareholder Foresite Labs, Llc purchased 411,764 shares of Alumis stock in a transaction dated Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James B. Tananbaum purchased 411,764 shares of Alumis stock in a transaction dated Thursday, January 8th. The stock was bought at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the director directly owned 5,702,536 shares in the company, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,823,527 shares of company stock worth $30,999,959 over the last quarter. 40.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alumis

Hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC grew its position in shares of Alumis by 4.1% during the 4th quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after buying an additional 690 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after acquiring an additional 979 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Alumis by 12.4% in the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after acquiring an additional 1,618 shares during the period. Stoneridge Investment Partners LLC boosted its stake in Alumis by 8.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock worth $118,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after acquiring an additional 2,949 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.