Alumis (NASDAQ:ALMS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Alumis (NASDAQ:ALMS) had its price target hoisted by investment analysts at Morgan Stanley from $33.00 to $38.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 49.72% from the stock’s current price.

ALMS has been the subject of several other reports. Guggenheim upped their price objective on Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Loop Capital set a $37.00 target price on Alumis in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. UBS Group reaffirmed an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

Alumis Stock Down 0.2%

Shares of NASDAQ:ALMS opened at $25.38 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -6.27 and a beta of -2.15. Alumis has a 12 month low of $2.76 and a 12 month high of $30.60. The company’s fifty day simple moving average is $26.32 and its 200 day simple moving average is $13.58.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The company had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.75 million. Research analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Foresite Capital Management Vi bought 411,764 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were acquired at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the transaction, the insider owned 5,702,536 shares in the company, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Foresite Labs, Llc bought 411,764 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were bought at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This represents a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,823,527 shares of company stock worth $30,999,959 in the last three months. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Several large investors have recently made changes to their positions in the stock. MPM Bioimpact LLC bought a new position in shares of Alumis in the fourth quarter valued at $23,443,000. Orbimed Advisors LLC bought a new stake in Alumis during the second quarter worth $5,779,000. Velan Capital Investment Management LP acquired a new stake in Alumis in the second quarter valued at $4,863,000. Woodline Partners LP lifted its stake in Alumis by 809.7% in the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after acquiring an additional 1,558,660 shares during the last quarter. Finally, Samsara Biocapital LLC grew its position in shares of Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after acquiring an additional 1,534,872 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.