HC Wainwright Lowers Alumis (NASDAQ:ALMS) Price Target to $26.00

Alumis (NASDAQ:ALMS) had its target price reduced by HC Wainwright from $30.00 to $26.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on ALMS. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Robert W. Baird assumed coverage on shares of Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target for the company. Guggenheim initiated coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price target for the company. Finally, Leerink Partners began coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective for the company. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $26.83.

Alumis Price Performance

Shares of NASDAQ:ALMS traded down $0.22 on Thursday, reaching $9.19. The company had a trading volume of 154,797 shares, compared to its average volume of 151,367. Alumis has a twelve month low of $8.23 and a twelve month high of $13.53. The company has a 50-day moving average of $11.29.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). As a group, research analysts expect that Alumis will post -8 EPS for the current fiscal year.

Hedge Funds Weigh In On Alumis

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of Alumis during the 3rd quarter worth about $27,000. MetLife Investment Management LLC acquired a new stake in shares of Alumis during the 3rd quarter worth about $89,000. Maven Securities LTD acquired a new stake in shares of Alumis during the 2nd quarter worth about $332,000. State Street Corp acquired a new stake in shares of Alumis during the 3rd quarter worth about $866,000. Finally, Stifel Financial Corp acquired a new stake in shares of Alumis during the 3rd quarter worth about $931,000.

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.