Alumis (NASDAQ:ALMS) Given New $55.00 Price Target at Oppenheimer

Alumis (NASDAQ:ALMS) had its price target lifted by stock analysts at Oppenheimer from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 133.51% from the stock’s current price.

A number of other brokerages have also commented on ALMS. Leerink Partners upped 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. HC Wainwright lowered their price objective on Alumis from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Guggenheim boosted their price objective on Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, UBS Group reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Alumis Stock Down 5.0%

Shares of ALMS traded down $1.25 during mid-day trading on Monday, hitting $23.55. 810,470 shares of the company’s stock were exchanged, compared to its average volume of 3,039,849. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -7.59 and a beta of -2.15. Alumis has a twelve month low of $2.76 and a twelve month high of $30.60. The firm has a fifty day moving average of $26.57 and a two-hundred day moving average of $14.56.

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

Insider Activity

In other news, Director James B. Tananbaum acquired 411,764 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the acquisition, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the insider owned 5,702,536 shares in the company, valued at $96,943,112. This represents a 7.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,823,527 shares of company stock worth $30,999,959 over the last quarter. 40.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after buying an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alumis by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock worth $378,000 after acquiring an additional 11,949 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Alumis during the 1st quarter worth approximately $111,000. Rhumbline Advisers raised its holdings in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Alumis by 163.2% in the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock valued at $3,504,000 after purchasing an additional 724,133 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.