Stifel Nicolaus Initiates Coverage on Alumis (NASDAQ:ALMS)

Stock analysts at Stifel Nicolaus began coverage on shares of Alumis (NASDAQ:ALMS) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $44.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 56.70% from the company’s current price.

Several other analysts also recently commented on the stock. Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Chardan Capital started coverage on Alumis in a research report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $40.00 target price (up from $20.00) on shares of Alumis in a research report on Friday, January 9th. Leerink Partners boosted their price target on Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley upped their price target on Alumis from $22.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.22.

Alumis Trading Up 1.6%

Alumis stock opened at $28.08 on Wednesday. Alumis has a 12-month low of $2.76 and a 12-month high of $30.60. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -6.93 and a beta of -2.13. The firm has a 50 day moving average of $21.01 and a 200 day moving average of $10.99.

Insider Buying and Selling

In other news, Director James B. Tananbaum acquired 411,764 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the director owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This trade represents a 7.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 2,396,983 shares of company stock valued at $35,813,664. 40.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently modified their holdings of ALMS. Russell Investments Group Ltd. grew its position in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares during the last quarter. 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 valued at $32,000 after buying an additional 7,165 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Alumis in the second quarter worth $36,000. Finally, ProShare Advisors LLC bought a new position in Alumis in the second quarter valued at $40,000.

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.