HC Wainwright Reiterates Buy Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $26.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 201.27% from the stock’s current price.

Several other research analysts have also commented on the stock. Robert W. Baird started coverage on shares of Alumis in a research note on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price objective for the company. Baird R W raised shares of Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

Alumis stock opened at $8.63 on Friday. Alumis has a fifty-two week low of $7.66 and a fifty-two week high of $13.53. The firm has a 50 day moving average of $10.24.

Hedge Funds Weigh In On Alumis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Alumis during the 3rd quarter worth $27,000. MetLife Investment Management LLC purchased a new stake in shares of Alumis in the 3rd quarter valued at about $89,000. Barclays PLC purchased a new position in Alumis during the 3rd quarter worth approximately $197,000. Maven Securities LTD acquired a new position in Alumis during the second quarter worth approximately $332,000. Finally, State Street Corp purchased a new stake in Alumis in the third quarter valued at approximately $866,000.

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.