Alumis Inc. (NASDAQ:ALMS – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $31.35 and last traded at $29.7610, with a volume of 575628 shares. The stock had previously closed at $29.27.
Analyst Upgrades and Downgrades
ALMS has been the subject of a number of research analyst reports. Oppenheimer increased their price target on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wells Fargo & Company increased their price target on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Raymond James Financial initiated coverage on shares of Alumis in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price objective for the company. Finally, HC Wainwright lowered shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.
View Our Latest Stock Analysis on ALMS
Alumis Stock Up 0.3%
Alumis (NASDAQ:ALMS – Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. As a group, equities analysts expect that Alumis Inc. will post -2.87 EPS for the current fiscal year.
Hedge Funds Weigh In On Alumis
Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV purchased a new position in Alumis in the first quarter worth about $42,000. Strs Ohio increased its holdings in Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after buying an additional 1,500 shares during the last quarter. State of Wyoming purchased a new stake in Alumis during the first quarter valued at approximately $57,000. EverSource Wealth Advisors LLC raised its position in Alumis by 600.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock worth $69,000 after acquiring an additional 2,684 shares during the period. Finally, Assetmark Inc. purchased a new position in shares of Alumis during the 1st quarter worth $92,000.
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.
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