Alamar Biosciences, Inc.’s (NASDAQ:ALMR) Lock-Up Period Will End Tomorrow

Alamar Biosciences’ (NASDAQ:ALMR) lock-up period will end on Wednesday, October 14th. Alamar Biosciences had issued 11,250,000 shares in its IPO on April 17th. The total size of the offering was $191,250,000 based on an initial share price of $17.00. After the end of Alamar Biosciences’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALMR shares. Weiss Ratings raised shares of Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. TD Cowen reiterated a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Finally, Stifel Nicolaus increased their target price on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Alamar Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

Alamar Biosciences Price Performance

Shares of Alamar Biosciences stock opened at $24.24 on Tuesday. The business’s fifty day simple moving average is $31.30. The stock has a market capitalization of $1.68 billion and a PE ratio of -12.37. Alamar Biosciences has a 1 year low of $18.84 and a 1 year high of $39.61. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR) last posted its earnings results on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, equities analysts expect that Alamar Biosciences will post -1.23 EPS for the current year.

Institutional Investors Weigh In On Alamar Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALMR. Braidwell LP purchased a new stake in shares of Alamar Biosciences during the second quarter worth $29,365,000. Wellington Management Group LLP acquired a new position in Alamar Biosciences in the second quarter valued at $12,407,000. State Street Corp purchased a new stake in shares of Alamar Biosciences in the 2nd quarter valued at about $3,930,000. Finally, Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the 2nd quarter worth approximately $283,000.

About Alamar Biosciences

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.