Alumis Inc. (NASDAQ:ALMS) Receives Consensus Rating of “Buy” from Brokerages

Alumis Inc. (NASDAQ:ALMS) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26.00.

A number of brokerages have recently issued reports on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Oppenheimer started coverage on Alumis in a report on Thursday, January 30th. They set an “outperform” rating and a $32.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Alumis in a research note on Wednesday, March 26th.

Insider Buying and Selling

In related news, Director Alan Colowick bought 16,104 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was purchased at an average cost of $6.97 per share, with a total value of $112,244.88. Following the transaction, the director now owns 16,104 shares in the company, valued at approximately $112,244.88. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin Babler bought 15,650 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were bought at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the purchase, the chief executive officer now directly owns 106,454 shares in the company, valued at approximately $685,563.76. This represents a 17.23 % increase in their position. The disclosure for this purchase can be found here.

Institutional Trading of Alumis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after acquiring an additional 2,949 shares during the period. Tang Capital Management LLC grew its stake in Alumis by 40.6% in the fourth quarter. Tang Capital Management LLC now owns 600,000 shares of the company’s stock worth $4,716,000 after purchasing an additional 173,406 shares during the period. Foresite Capital Management V LLC raised its holdings 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 worth $45,426,000 after purchasing an additional 194,459 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Alumis by 1,257.0% during the fourth quarter. BNP Paribas Financial Markets now owns 34,835 shares of the company’s stock valued at $274,000 after buying an additional 32,268 shares during the period. Finally, Ally Bridge Group NY LLC boosted its holdings in shares of Alumis by 6.4% during the 4th quarter. Ally Bridge Group NY LLC now owns 445,259 shares of the company’s stock valued at $3,500,000 after buying an additional 26,843 shares in the last quarter.

Alumis Trading Down 16.8 %

Shares of NASDAQ:ALMS opened at $5.39 on Thursday. The company’s fifty day moving average is $5.59 and its 200 day moving average is $7.99. Alumis has a 52 week low of $3.18 and a 52 week high of $13.53.

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.