Alumis (NASDAQ:ALMS) Price Target Raised to $40.00

Alumis (NASDAQ:ALMS) had its price target lifted by research analysts at Chardan Capital from $38.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price objective would suggest a potential upside of 89.13% from the stock’s previous close.

Several other brokerages have also weighed in on ALMS. Raymond James Financial assumed coverage on shares of Alumis in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price objective on the stock. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus assumed coverage on shares of Alumis in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 target price for the company. HC Wainwright downgraded shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Alumis Trading Down 7.5%

Shares of NASDAQ ALMS opened at $21.15 on Tuesday. The firm’s 50-day moving average price is $24.31 and its 200-day moving average price is $19.19. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60. The firm has a market capitalization of $2.69 billion, a P/E ratio of -10.68 and a beta of -0.31.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.10 million. Equities research analysts forecast that Alumis will post -3.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALMS. Russell Investments Group Ltd. grew its position 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 acquiring an additional 4,894 shares during the period. New York State Common Retirement Fund grew 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 acquiring an additional 7,467 shares during the period. CWM LLC grew its position in shares of 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 acquiring an additional 9,464 shares during the period. KBC Group NV bought a new position in shares of Alumis during the 1st quarter valued at approximately $42,000. Finally, Strs Ohio grew its position in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 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.