Alumis (NASDAQ:ALMS) Price Target Cut to $19.00 by Analysts at HC Wainwright

Alumis (NASDAQ:ALMS) had its price target lowered by investment analysts at HC Wainwright from $26.00 to $19.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 188.32% from the stock’s current price.

Several other brokerages also recently weighed in on ALMS. Baird R W raised shares of Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Oppenheimer began coverage on shares of Alumis in a report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Finally, Robert W. Baird began coverage on shares of Alumis in a report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alumis currently has a consensus rating of “Buy” and an average target price of $26.57.

Alumis Stock Performance

NASDAQ ALMS opened at $6.59 on Friday. Alumis has a one year low of $6.29 and a one year high of $13.53. The firm’s fifty day moving average is $7.93 and its two-hundred day moving average is $10.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALMS. BNP Paribas Financial Markets bought a new position in Alumis during the 3rd quarter valued at $27,000. Charles Schwab Investment Management Inc. boosted its stake in Alumis by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company’s stock valued at $891,000 after acquiring an additional 4,808 shares during the last quarter. MetLife Investment Management LLC bought a new position in Alumis during the 3rd quarter valued at $89,000. China Universal Asset Management Co. Ltd. bought a new position in Alumis during the 4th quarter valued at $79,000. Finally, JPMorgan Chase & Co. bought a new position in Alumis during the 3rd quarter valued at $191,000.

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.