Alumis Inc.’s (NASDAQ:ALMS) Quiet Period Will End on August 7th

Alumis’ (NASDAQ:ALMS) quiet period is set to expire on Wednesday, August 7th. Alumis had issued 13,125,000 shares in its initial public offering on June 28th. The total size of the offering was $210,000,000 based on an initial share price of $16.00. During Alumis’ quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALMS. Cantor Fitzgerald began coverage on Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $13.00 target price on the stock. Guggenheim initiated coverage on Alumis in a report on Tuesday, July 23rd. They set a “buy” rating and a $32.00 price objective on the stock. SVB Leerink started coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Morgan Stanley started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $27.50.

Alumis Stock Up 3.4 %

Shares of NASDAQ ALMS opened at $12.26 on Wednesday. Alumis has a one year low of $10.45 and a one year high of $13.53.

Institutional Trading of Alumis

An institutional investor recently bought a new position in Alumis stock. Towerview LLC bought a new position in Alumis Inc. (NASDAQ:ALMS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 310,000 shares of the company’s stock, valued at approximately $4,123,000. Alumis makes up about 2.7% of Towerview LLC’s holdings, making the stock its 8th biggest holding. Towerview LLC owned approximately 0.66% of Alumis at the end of the most recent quarter.

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.