Alumis (NASDAQ:ALMS) Stock Price Up 3.1% – Here’s What Happened

Alumis Inc. (NASDAQ:ALMS)’s share price shot up 3.1% during trading on Monday . The stock traded as high as $12.41 and last traded at $12.40. 14,687 shares were traded during mid-day trading, a decline of 91% from the average session volume of 168,356 shares. The stock had previously closed at $12.03.

Analyst Ratings Changes

Several analysts have recently weighed in on ALMS shares. Guggenheim started coverage on Alumis in a research report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Monday, August 19th. HC Wainwright started coverage on Alumis in a research report on Thursday, October 17th. They set a “buy” rating and a $30.00 target price for the company. Finally, Leerink Partners started 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alumis has a consensus rating of “Buy” and an average price target of $28.00.

Alumis Trading Down 7.2 %

The business has a fifty day moving average price of $11.66.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing the consensus estimate of ($1.57) by ($21.53). Equities analysts expect that Alumis Inc. will post -6.86 EPS for the current fiscal year.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently made changes to their positions in ALMS. SR One Capital Management LP acquired a new stake in shares of Alumis during the second quarter worth $26,067,000. Yu Fan purchased a new stake in Alumis during the 2nd quarter valued at about $10,502,000. Ally Bridge Group NY LLC acquired a new position in shares of Alumis in the second quarter valued at about $8,229,000. Towerview LLC purchased a new position in shares of Alumis in the second quarter worth about $4,123,000. Finally, Millennium Management LLC purchased a new position in Alumis during the 2nd quarter worth approximately $3,376,000.

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.