Oppenheimer Lowers Alumis (NASDAQ:ALMS) Price Target to $25.00

Alumis (NASDAQ:ALMS) had its target price cut by equities researchers at Oppenheimer from $26.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 344.84% from the stock’s current price.

Several other research firms have also recently commented on ALMS. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Alumis in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Thursday, March 20th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.86.

Alumis Price Performance

Shares of ALMS stock opened at $5.62 on Thursday. Alumis has a 12-month low of $3.18 and a 12-month high of $13.53. The business has a 50 day simple moving average of $5.45 and a 200 day simple moving average of $6.97.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.47) by ($0.35). Equities research analysts anticipate that Alumis will post -8.51 EPS for the current year.

Insider Buying and Selling

In related news, Director Alan Colowick acquired 16,104 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was bought at an average price of $6.97 per share, for a total transaction of $112,244.88. Following the transaction, the director now owns 16,104 shares of the company’s stock, valued at approximately $112,244.88. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 25,000 shares of Alumis stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $4.62 per share, with a total value of $115,500.00. Following the completion of the purchase, the insider now owns 4,227,670 shares in the company, valued at approximately $19,531,835.40. This represents a 0.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 397,044 shares of company stock worth $1,891,895.

Institutional Investors Weigh In On Alumis

Large investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in Alumis by 21.7% in the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares during the period. Corebridge Financial Inc. grew its holdings in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after buying an additional 3,693 shares in the last quarter. Wells Fargo & Company MN raised its position in Alumis by 77.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after buying an additional 3,823 shares during the period. Northern Trust Corp lifted its stake in Alumis by 4.3% in the 4th quarter. Northern Trust Corp now owns 111,326 shares of the company’s stock worth $875,000 after acquiring an additional 4,587 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Alumis by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company’s stock worth $891,000 after acquiring an additional 4,808 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.