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

Alumis (NASDAQ:ALMS) had its price target cut by equities research analysts at HC Wainwright from $26.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 188.32% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Robert W. Baird assumed 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. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Oppenheimer started 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Seven 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, Alumis currently has a consensus rating of “Buy” and a consensus price target of $26.57.

Alumis Stock Down 7.6 %

Shares of NASDAQ ALMS opened at $6.59 on Friday. Alumis has a 12-month low of $6.29 and a 12-month high of $13.53. The company has a 50-day moving average of $7.93 and a 200 day moving average of $10.30.

Institutional Investors Weigh In On Alumis

A number of large investors have recently modified their holdings of ALMS. Millennium Management LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $3,376,000. Towerview LLC increased its position in shares of Alumis by 22.6% in the 3rd quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after purchasing an additional 70,000 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Alumis in the 3rd quarter valued at approximately $1,160,000. BNP Paribas Financial Markets purchased a new stake in shares of Alumis in the 3rd quarter valued at approximately $27,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Alumis in the 3rd quarter valued at approximately $89,000.

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.