Alumis Inc. (NASDAQ:ALMS - Get Free Report) has earned an average recommendation of "Buy" from the nine research firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $25.86.
A number of brokerages recently weighed in on ALMS. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a report on Thursday, March 20th. HC Wainwright reissued a "buy" rating and issued a $14.00 target price on shares of Alumis in a research note on Wednesday, April 30th. Finally, Oppenheimer began coverage on Alumis in a research note on Thursday, January 30th. They set an "outperform" rating and a $32.00 price target on the stock.
View Our Latest Stock Report on ALMS
Insiders Place Their Bets
In other news, Director Srinivas Akkaraju bought 160,370 shares of the stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $4.67 per share, with a total value of $748,927.90. Following the completion of the purchase, the director now owns 3,586,788 shares of the company's stock, valued at approximately $16,750,299.96. This trade represents a 4.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Foresite Labs, Llc purchased 20,000 shares of Alumis stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $4.34 per share, for a total transaction of $86,800.00. Following the completion of the transaction, the insider now owns 4,247,670 shares of the company's stock, valued at approximately $18,434,887.80. This represents a 0.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 397,044 shares of company stock worth $1,891,895.
Institutional Trading of Alumis
Large investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in Alumis in the third quarter valued at about $197,000. Geode Capital Management LLC acquired a new stake in Alumis during the 3rd quarter worth approximately $3,266,000. JPMorgan Chase & Co. bought a new position in Alumis in the third quarter valued at approximately $191,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Alumis in the fourth quarter valued at approximately $79,000. Finally, Towerview LLC increased its position in shares of Alumis by 9.2% during the fourth quarter. Towerview LLC now owns 415,000 shares of the company's stock worth $3,262,000 after acquiring an additional 35,000 shares in the last quarter.
Alumis Trading Down 1.9 %
ALMS stock traded down $0.10 during midday trading on Monday, reaching $5.22. 134,709 shares of the company's stock traded hands, compared to its average volume of 324,542. The company has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $7.27. Alumis has a 1-year low of $3.18 and a 1-year high of $13.53.
About Alumis
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Get Free ReportOur 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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