Alumis (NASDAQ:ALMS) Coverage Initiated at Chardan Capital

Investment analysts at Chardan Capital initiated coverage on shares of Alumis (NASDAQ:ALMS) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $37.00 price target on the stock. Chardan Capital’s price objective would suggest a potential upside of 40.79% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Citigroup reaffirmed an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Loop Capital set a $37.00 price target on Alumis in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Finally, Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of Alumis in a report on Tuesday, January 6th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alumis has an average rating of “Moderate Buy” and an average target price of $37.50.

Alumis Price Performance

NASDAQ ALMS opened at $26.28 on Wednesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of -6.49 and a beta of -2.09. The business has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $7.23. Alumis has a one year low of $2.76 and a one year high of $27.20.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. Equities analysts expect that Alumis will post -8.51 earnings per share for the current year.

Insiders Place Their Bets

In other Alumis news, major shareholder Foresite Capital Management Vi bought 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. This trade represents a 7.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James B. Tananbaum acquired 411,764 shares of the stock in a transaction on Thursday, January 8th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the director owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 4,612,402 shares of company stock worth $49,352,316 over the last 90 days. Company insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares in the last quarter. CWM LLC grew its holdings in Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after buying an additional 9,464 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after buying an additional 7,165 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after buying an additional 7,467 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Alumis by 104.9% in the third quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock valued at $47,000 after acquiring an additional 6,027 shares during the period.

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.