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

Alumis (NASDAQ:ALMS) had its target price reduced by HC Wainwright from $26.00 to $19.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on ALMS. Robert W. Baird assumed coverage on shares of Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price objective for the company. Oppenheimer started coverage on Alumis in a report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th. Finally, Baird R W upgraded Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alumis has a consensus rating of “Buy” and an average target price of $26.57.

Alumis Stock Performance

Shares of ALMS stock opened at $5.67 on Friday. Alumis has a fifty-two week low of $4.86 and a fifty-two week high of $13.53. The stock’s fifty day moving average is $7.87 and its two-hundred day moving average is $10.27.

Hedge Funds Weigh In On Alumis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Samsara BioCapital LLC acquired a new stake in Alumis during the third quarter worth approximately $34,886,000. Towerview LLC lifted its position in Alumis by 9.2% during the 4th quarter. Towerview LLC now owns 415,000 shares of the company’s stock worth $3,262,000 after acquiring an additional 35,000 shares during the period. Geode Capital Management LLC purchased a new position in shares of Alumis in the 3rd quarter valued at approximately $3,266,000. Millennium Management LLC acquired a new position in shares of Alumis in the second quarter valued at approximately $3,376,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alumis by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company’s stock worth $891,000 after purchasing an additional 4,808 shares during the period.

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.