HC Wainwright Cuts Alumis (NASDAQ:ALMS) Price Target to $26.00

Alumis (NASDAQ:ALMS) had its target price reduced by HC Wainwright from $30.00 to $26.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Leerink Partners began coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. Guggenheim began coverage on Alumis in a research note on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alumis presently has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

NASDAQ ALMS opened at $8.85 on Thursday. Alumis has a 1-year low of $8.23 and a 1-year high of $13.53. The company’s 50 day moving average price is $11.22.

Institutional Investors Weigh In On Alumis

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Alumis during the 3rd quarter worth approximately $27,000. MetLife Investment Management LLC purchased a new position in shares of Alumis during the third quarter worth $89,000. Barclays PLC acquired a new position in Alumis during the third quarter valued at $197,000. Maven Securities LTD purchased a new stake in Alumis in the second quarter valued at $332,000. Finally, State Street Corp acquired a new stake in Alumis during the 3rd quarter worth about $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.