Alumis (NASDAQ:ALMS) Given New $25.00 Price Target at Oppenheimer

Alumis (NASDAQ:ALMS) had its price target lowered by Oppenheimer from $26.00 to $25.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Alumis in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.86.

Alumis Trading Up 18.6%

Shares of NASDAQ:ALMS opened at $5.35 on Thursday. Alumis has a 52-week low of $3.18 and a 52-week high of $13.53. The business’s 50 day simple moving average is $5.43 and its two-hundred day simple moving average is $7.02.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.47) by ($0.35). On average, research analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In other Alumis news, Director Srinivas Akkaraju acquired 159,920 shares of Alumis stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average cost of $4.55 per share, for a total transaction of $727,636.00. Following the purchase, the director now owns 3,426,418 shares of the company’s stock, valued at approximately $15,590,201.90. This represents a 4.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Babler bought 15,650 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were bought at an average price of $6.44 per share, for a total transaction of $100,786.00. Following the transaction, the chief executive officer now owns 106,454 shares of the company’s stock, valued at approximately $685,563.76. This represents a 17.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 397,044 shares of company stock valued at $1,891,895.

Hedge Funds Weigh In On Alumis

Large investors have recently made changes to their positions in the stock. Corebridge Financial Inc. lifted its holdings in Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after purchasing an additional 3,693 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Alumis by 77.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after buying an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Alumis in the fourth quarter worth about $79,000. Rhumbline Advisers boosted its position in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after acquiring an additional 2,949 shares during the period. Finally, Nuveen LLC purchased a new position in Alumis during the first quarter valued at approximately $105,000.

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.