Alumis (NASDAQ:ALMS) Price Target Raised to $40.00

Alumis (NASDAQ:ALMS) had its price objective hoisted by investment analysts at Chardan Capital from $38.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 89.13% from the stock’s current price.

ALMS has been the topic of several other reports. Loop Capital set a $37.00 target price on shares of Alumis in a research note on Wednesday, January 21st. Stifel Nicolaus initiated coverage on shares of Alumis in a report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer lifted their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Trading Down 7.5%

Shares of ALMS stock opened at $21.15 on Tuesday. The stock has a market capitalization of $2.69 billion, a P/E ratio of -10.68 and a beta of -0.31. The firm’s 50 day moving average is $24.31 and its 200 day moving average is $19.19. Alumis has a 12 month low of $2.76 and a 12 month high of $30.60.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The business had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. On average, equities analysts predict that Alumis will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Alumis

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the period. New York State Common Retirement Fund raised its position in Alumis by 173.7% in the 2nd 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 during the period. CWM LLC increased its position in shares of Alumis by 1,028.7% in the third quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after acquiring an additional 9,464 shares during the period. KBC Group NV purchased a new position in shares of Alumis in the first quarter valued at about $42,000. Finally, Strs Ohio increased its position in shares of Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 shares during the period.

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.