Analysts Set Alumis Inc. (NASDAQ:ALMS) Price Target at $26.83

Alumis Inc. (NASDAQ:ALMS) has been assigned an average rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.83.

Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of Alumis in a research report on Monday, January 6th. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. Finally, Robert W. Baird initiated coverage on shares of Alumis in a report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 target price for the company.

Alumis Trading Down 1.2 %

Alumis stock opened at $6.53 on Friday. Alumis has a 1 year low of $6.29 and a 1 year high of $13.53. The firm’s 50 day moving average price is $8.22 and its 200-day moving average price is $10.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALMS. China Universal Asset Management Co. Ltd. purchased a new position in Alumis during the fourth quarter worth $79,000. JPMorgan Chase & Co. purchased a new position in Alumis during the third quarter worth $191,000. Barclays PLC purchased a new position in Alumis during the third quarter worth $197,000. Geode Capital Management LLC purchased a new position in Alumis during the third quarter worth $3,266,000. Finally, State Street Corp purchased a new position in Alumis during the third quarter worth $866,000.

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.