HC Wainwright Has Lowered Expectations for Alumis (NASDAQ:ALMS) Stock Price

Alumis (NASDAQ:ALMS) had its target price trimmed by HC Wainwright from $30.00 to $26.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research report on Tuesday, July 23rd. Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Morgan Stanley began coverage on Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Monday, August 19th. Finally, Guggenheim started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

ALMS opened at $8.85 on Thursday. Alumis has a one year low of $8.23 and a one year high of $13.53. The firm’s 50 day simple moving average is $11.22.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently added to or reduced their stakes in ALMS. Samsara BioCapital LLC purchased a new position in shares of Alumis in the 3rd quarter worth about $34,886,000. SR One Capital Management LP bought a new stake in Alumis during the 2nd quarter valued at about $26,067,000. Yu Fan purchased a new position in Alumis in the second quarter worth about $10,502,000. Ally Bridge Group NY LLC bought a new position in shares of Alumis in the second quarter worth approximately $8,229,000. Finally, Towerview LLC grew its holdings in shares of Alumis by 22.6% during the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after buying an additional 70,000 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.