Alumis Inc. (NASDAQ:ALMS) Receives $38.22 Average Target Price from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.2222.

Several brokerages have commented on ALMS. Citigroup restated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of Alumis in a research note on Tuesday, January 6th. Stifel Nicolaus assumed coverage on shares of Alumis in a report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th.

Alumis Price Performance

Shares of ALMS stock opened at $26.90 on Friday. The business’s fifty day moving average price is $23.82 and its 200 day moving average price is $12.30. The firm has a market capitalization of $2.81 billion, a PE ratio of -6.64 and a beta of -2.15. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60.

Insider Transactions at Alumis

In other news, Director Srinivas Akkaraju acquired 588,235 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the purchase, the director directly owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. This trade represents a 46.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Foresite Capital Management Vi acquired 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 1,823,527 shares of company stock valued at $30,999,959. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Institutional investors and hedge funds have recently made changes to their positions in the business. MPM Bioimpact LLC purchased a new position in Alumis during the 4th quarter valued at about $23,443,000. Orbimed Advisors LLC acquired a new stake in shares of Alumis in the second quarter valued at approximately $5,779,000. Velan Capital Investment Management LP acquired a new stake in shares of Alumis in the second quarter valued at approximately $4,863,000. Woodline Partners LP increased its stake in shares of Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after purchasing an additional 1,558,660 shares in the last quarter. Finally, Samsara Biocapital LLC raised its position in shares of Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after purchasing an additional 1,534,872 shares during the last quarter.

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.