Alumis (NASDAQ:ALMS) Shares Down 4.6%

Alumis Inc. (NASDAQ:ALMS) shares were down 4.6% on Wednesday . The company traded as low as $10.94 and last traded at $10.95. Approximately 8,453 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 142,105 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ALMS shares. Leerink Partners began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley initiated coverage on Alumis in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target for the company. Finally, Guggenheim began coverage on Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.50.

Alumis Stock Down 4.6 %

The company has a 50-day simple moving average of $12.40.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). As a group, analysts forecast that Alumis Inc. will post -6.86 earnings per share for the current fiscal year.

Institutional Trading of Alumis

Institutional investors and hedge funds have recently made changes to their positions in the stock. Maven Securities LTD bought a new position in Alumis during the second quarter valued at approximately $332,000. Millennium Management LLC bought a new position in shares of Alumis during the 2nd quarter valued at $3,376,000. Yu Fan purchased a new position in Alumis in the 2nd quarter worth $10,502,000. Ally Bridge Group NY LLC bought a new stake in Alumis in the second quarter worth $8,229,000. Finally, SR One Capital Management LP purchased a new stake in Alumis during the second quarter valued at about $26,067,000.

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.