Alumis (NASDAQ:ALMS) Shares Gap Down to $12.54

Alumis Inc. (NASDAQ:ALMS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $12.54, but opened at $12.25. Alumis shares last traded at $12.40, with a volume of 2,121 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALMS shares. Cantor Fitzgerald began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $13.00 target price for the company. Guggenheim initiated coverage on shares of Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective for the company. Morgan Stanley initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $36.00 target price for the company. SVB Leerink assumed coverage on Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Leerink Partnrs raised Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alumis currently has a consensus rating of “Buy” and an average price target of $27.50.

Alumis Price Performance

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALMS. Towerview LLC acquired a new position in Alumis during the 2nd quarter valued at about $4,123,000. Ally Bridge Group NY LLC acquired a new stake in Alumis during the 2nd quarter worth $8,229,000. Yu Fan bought a new stake in shares of Alumis during the 2nd quarter valued at $10,502,000. Finally, SR One Capital Management LP acquired a new position in shares of Alumis in the 2nd quarter valued at $26,067,000.

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.