HC Wainwright Issues Pessimistic Forecast for Alumis (NASDAQ:ALMS) Stock Price

Alumis (NASDAQ:ALMS) had its price target cut by equities research analysts at HC Wainwright from $30.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 140.52% from the stock’s current price.

Several other research firms have also recently commented on ALMS. Leerink Partners started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Robert W. Baird started coverage on Alumis in a report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Monday, August 19th. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Baird R W raised shares of Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alumis currently has a consensus rating of “Buy” and a consensus target price of $26.83.

Alumis Stock Performance

Shares of NASDAQ ALMS opened at $10.81 on Thursday. Alumis has a 12-month low of $9.54 and a 12-month high of $13.53. The business has a 50 day moving average of $11.36.

Alumis (NASDAQ:ALMS) last posted its earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). On average, research analysts forecast that Alumis will post -8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Alumis during the 3rd quarter worth $27,000. MetLife Investment Management LLC purchased a new stake in Alumis during the third quarter valued at about $89,000. Maven Securities LTD acquired a new position in shares of Alumis in the second quarter worth about $332,000. Towerview LLC increased its position in shares of Alumis by 22.6% in the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock worth $4,058,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Alumis during the third quarter valued at approximately $1,160,000.

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.