Alumis’ (ALMS) Buy Rating Reaffirmed at HC Wainwright

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $15.00 target price on the stock, down from their prior target price of $19.00. HC Wainwright’s target price would suggest a potential upside of 243.25% from the company’s current price.

Separately, Oppenheimer started coverage on shares of Alumis in a research report on Thursday, January 30th. They set an “outperform” rating and a $32.00 target price on the stock. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $26.00.

Alumis Stock Performance

Shares of ALMS stock opened at $4.37 on Thursday. Alumis has a twelve month low of $4.24 and a twelve month high of $13.53. The stock’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $8.69.

Institutional Investors Weigh In On Alumis

Large investors have recently added to or reduced their stakes in the business. Foresite Capital Management VI LLC bought a new position in shares of Alumis during the 4th quarter worth approximately $33,033,000. Samsara BioCapital LLC acquired a new position in shares of Alumis during the 3rd quarter valued at $34,886,000. Geode Capital Management LLC acquired a new stake in Alumis in the third quarter worth $3,266,000. Norges Bank bought a new stake in Alumis in the fourth quarter valued at $1,606,000. Finally, Foresite Capital Management V LLC increased its stake in Alumis by 3.5% in the fourth quarter. Foresite Capital Management V LLC now owns 5,779,348 shares of the company’s stock valued at $45,426,000 after purchasing an additional 194,459 shares in 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.