Alumis (NASDAQ:ALMS) Price Target Raised to $38.00

Alumis (NASDAQ:ALMS) had its price objective boosted by equities researchers at Chardan Capital from $37.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price would indicate a potential upside of 49.72% from the company’s previous close.

Several other research firms have also weighed in on ALMS. Loop Capital set a $37.00 target price on shares of Alumis in a report on Wednesday, January 21st. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Citigroup reissued an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Leerink Partners upped their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, UBS Group reissued an “outperform” rating on shares of Alumis in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Alumis Stock Performance

Shares of ALMS stock opened at $25.38 on Friday. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $30.60. The firm has a market capitalization of $2.65 billion, a PE ratio of -6.27 and a beta of -2.15. The stock’s 50-day simple moving average is $26.32 and its 200-day simple moving average is $13.58.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $2.75 million. Sell-side analysts forecast that Alumis will post -8.51 earnings per share for the current year.

Insider Buying and Selling

In other Alumis news, Director Srinivas Akkaraju acquired 588,235 shares of the stock in a transaction dated Friday, January 9th. The stock was acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the transaction, the director directly owned 1,853,488 shares in the company, valued at approximately $31,509,296. This trade represents a 46.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Foresite Capital Management Vi bought 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This trade represents a 7.78% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is owned by insiders.

Institutional Trading of Alumis

A number of institutional investors and hedge funds have recently made changes to their positions in ALMS. Ieq Capital LLC grew its position in Alumis by 4.1% during the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock valued at $170,000 after acquiring an additional 690 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alumis by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after purchasing an additional 979 shares in the last quarter. ProShare Advisors LLC raised its holdings in Alumis by 12.4% in the fourth quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after buying an additional 1,618 shares during the period. Stoneridge Investment Partners LLC lifted its position in Alumis by 8.1% during the third quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock valued at $118,000 after buying an additional 2,210 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after buying an additional 2,949 shares during the period.

Alumis Company Profile

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.