Alumis (NASDAQ:ALMS) Given New $38.00 Price Target at Chardan Capital

Alumis (NASDAQ:ALMS) had its price objective raised by stock analysts at Chardan Capital from $37.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price suggests a potential upside of 49.72% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their target price on shares of Alumis from $22.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Stifel Nicolaus started coverage on shares of Alumis in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective on the stock. Raymond James Financial started coverage on Alumis in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alumis presently has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Alumis Stock Down 0.2%

Shares of NASDAQ:ALMS opened at $25.38 on Friday. Alumis has a twelve month low of $2.76 and a twelve month high of $30.60. The firm has a market capitalization of $2.65 billion, a PE ratio of -6.27 and a beta of -2.15. The company has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $13.58.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The firm had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.75 million. Analysts anticipate that Alumis will post -8.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Foresite Labs, Llc purchased 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This represents a 7.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James B. Tananbaum acquired 411,764 shares of Alumis stock in a transaction on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the purchase, the director directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,823,527 shares of company stock valued at $30,999,959 in the last 90 days. 40.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 purchasing an additional 979 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the period. CWM LLC lifted its stake in shares of Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after purchasing an additional 9,464 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares in 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.