Alumis Inc. (NASDAQ:ALMS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $38.2222.

A number of equities analysts recently commented on ALMS shares. Stifel Nicolaus started coverage on shares of Alumis in a research report on Wednesday. They set a “buy” rating and a $44.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $40.00 target price (up from $20.00) on shares of Alumis in a research report on Friday, January 9th. Guggenheim boosted their price target on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Chardan Capital began coverage on shares of Alumis in a report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th.

Insiders Place Their Bets

In related news, major shareholder Foresite Labs, Llc bought 411,764 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srinivas Akkaraju purchased 588,235 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, the director directly owned 1,853,488 shares in the company, valued at $31,509,296. The trade was a 46.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,358,281 shares of company stock worth $35,517,981 in the last ninety days. Insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after buying an additional 979 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after purchasing an additional 4,894 shares during the last quarter. CWM LLC increased its position in shares of Alumis by 1,028.7% during the third quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after buying an additional 9,464 shares during the period. Police & Firemen s Retirement System of New Jersey raised its position in shares of Alumis by 199.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after acquiring an additional 7,165 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares in the last quarter.

Alumis Trading Down 1.0%

Alumis stock opened at $29.69 on Friday. Alumis has a 12 month low of $2.76 and a 12 month high of $30.60. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -7.33 and a beta of -2.06. The stock’s 50 day moving average is $22.13 and its 200-day moving average is $11.47.

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.