Alumis (NASDAQ:ALMS) Now Covered by Oppenheimer

Oppenheimer started coverage on shares of Alumis (NASDAQ:ALMS) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $32.00 price target on the stock.

Several other research firms have also recently weighed in on ALMS. Robert W. Baird began coverage on Alumis in a report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Alumis in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Finally, Baird R W raised shares of Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.57.

Alumis Stock Performance

ALMS opened at $6.72 on Thursday. Alumis has a one year low of $6.29 and a one year high of $13.53. The company has a fifty day moving average price of $8.16 and a 200-day moving average price of $10.47.

Hedge Funds Weigh In On Alumis

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in Alumis during the 3rd quarter valued at about $27,000. MetLife Investment Management LLC purchased a new position in shares of Alumis during the third quarter valued at approximately $89,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Alumis during the fourth quarter valued at approximately $79,000. JPMorgan Chase & Co. purchased a new stake in Alumis in the third quarter worth $191,000. Finally, Barclays PLC bought a new stake in Alumis in the third quarter valued at $197,000.

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.