Alumis (NASDAQ:ALMS) Shares Gap Up – Here’s What Happened

Alumis Inc. (NASDAQ:ALMS) gapped up before the market opened on Thursday . The stock had previously closed at $11.19, but opened at $11.63. Alumis shares last traded at $11.23, with a volume of 9,568 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Leerink Partnrs upgraded Alumis to a “strong-buy” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. HC Wainwright started coverage on shares of Alumis in a research report on Thursday. They set a “buy” rating and a $30.00 target price for the company. Guggenheim assumed coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Leerink Partners began coverage on Alumis in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $28.00.

Alumis Stock Down 1.3 %

The firm’s fifty day moving average price is $11.66.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALMS. SR One Capital Management LP purchased a new position in shares of Alumis during the 2nd quarter valued at approximately $26,067,000. Millennium Management LLC acquired a new stake in Alumis during the second quarter valued at $3,376,000. Maven Securities LTD purchased a new position in Alumis in the second quarter valued at $332,000. Yu Fan acquired a new position in shares of Alumis in the second quarter worth about $10,502,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Alumis during the 2nd quarter worth about $8,229,000.

About Alumis

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.