Alumis (NASDAQ:ALMS) Now Covered by Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Alumis (NASDAQ:ALMS) in a report published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $44.00 target price on the stock.

ALMS has been the topic of a number of other research reports. Chardan Capital began coverage on shares of Alumis in a research report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 price target on the stock. Morgan Stanley upped their price objective on shares of Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Leerink Partners raised their target price on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Finally, Guggenheim lifted their price target on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.22.

Alumis Price Performance

Shares of ALMS opened at $29.39 on Wednesday. The business has a 50-day moving average of $21.38 and a 200-day moving average of $11.12. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -7.26 and a beta of -2.06. Alumis has a 1 year low of $2.76 and a 1 year high of $30.60.

Insider Activity

In other news, major shareholder Foresite Capital Management Vi bought 411,764 shares of the stock in a transaction dated Thursday, January 8th. The stock was bought at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the acquisition, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju purchased 588,235 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, the director owned 1,853,488 shares of the company’s stock, valued at $31,509,296. The trade was a 46.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 2,396,983 shares of company stock worth $35,813,664. 40.70% of the stock is owned by insiders.

Institutional Trading of Alumis

A number of hedge funds have recently bought and sold shares of ALMS. Stonepine Capital Management LLC purchased a new position in shares of Alumis in the 2nd quarter worth about $1,049,000. Trium Capital LLP boosted its stake in Alumis by 17.9% in the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after acquiring an additional 474,072 shares during the last quarter. General Atlantic L.P. bought a new position in shares of Alumis during the 2nd quarter valued at approximately $3,893,000. Velan Capital Investment Management LP purchased a new stake in shares of Alumis during the 2nd quarter worth approximately $4,863,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Alumis during the 2nd quarter worth approximately $368,000.

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.