Cantor Fitzgerald Reaffirms Overweight Rating for Alumis (NASDAQ:ALMS)

Cantor Fitzgerald reissued their overweight rating on shares of Alumis (NASDAQ:ALMS) in a research report released on Thursday morning,Benzinga reports.

ALMS has been the subject of a number of other research reports. Leerink Partners assumed coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Leerink Partnrs upgraded shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley started coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 target price for the company. Finally, Robert W. Baird assumed coverage on Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $26.83.

Alumis Stock Down 6.0 %

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

Institutional Trading of Alumis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Samsara BioCapital LLC acquired a new position in shares of Alumis in the third quarter worth about $34,886,000. SR One Capital Management LP purchased a new position in shares of Alumis in the 2nd quarter valued at about $26,067,000. Yu Fan acquired a new position in Alumis in the 2nd quarter worth about $10,502,000. Ally Bridge Group NY LLC purchased a new position in Alumis during the second quarter worth approximately $8,229,000. Finally, Towerview LLC acquired a new stake in Alumis in the second quarter valued at approximately $4,123,000.

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.