HC Wainwright Reiterates Buy Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 265.54% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Oppenheimer initiated coverage on shares of Alumis in a research report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Alumis has a consensus rating of “Buy” and a consensus price target of $25.86.

Alumis Stock Performance

Shares of NASDAQ ALMS opened at $3.83 on Wednesday. The stock’s 50-day simple moving average is $5.42 and its two-hundred day simple moving average is $7.51. Alumis has a twelve month low of $3.18 and a twelve month high of $13.53.

Insider Transactions at Alumis

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

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after acquiring an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Alumis during the 4th quarter valued at about $79,000. Rhumbline Advisers increased its holdings in Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares during the period. Marshall Wace LLP purchased a new stake in Alumis in the 4th quarter worth approximately $108,000. Finally, XTX Topco Ltd purchased a new stake in Alumis in the 4th quarter worth approximately $129,000.

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.