Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $1,988,880.72 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 75,508 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of $26.34, for a total value of $1,988,880.72. Following the completion of the sale, the insider owned 180,808 shares of the company’s stock, valued at $4,762,482.72. The trade was a 29.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Corporate Gp Vi Ltd. Qiming also recently made the following trade(s):

• On Tuesday, October 20th, Corporate Gp Vi Ltd. Qiming sold 142,004 shares of Alamar Biosciences stock. The stock was sold at an average price of $27.89, for a total value of $3,960,491.56.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The stock was sold at an average price of $27.02, for a total value of $3,674.72.
• On Thursday, October 15th, Corporate Gp Vi Ltd. Qiming sold 173,537 shares of Alamar Biosciences stock. The shares were sold at an average price of $27.73, for a total value of $4,812,181.01.

Alamar Biosciences Stock Up 11.7%

Shares of NASDAQ ALMR traded up $3.29 during trading on Wednesday, reaching $31.45. The company had a trading volume of 1,141,204 shares, compared to its average volume of 725,622. The company has a market cap of $2.18 billion and a PE ratio of -16.05. The company has a fifty day simple moving average of $30.86. 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, Inc. has a 12 month low of $18.84 and a 12 month high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $29.43 million for the quarter. As a group, equities analysts predict that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Hedge Funds Weigh In On Alamar Biosciences

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. TD Cowen restated a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.80.

About Alamar Biosciences

Alamar Biosciences, Inc (NASDAQ: ALMR) is a life sciences company focused on advancing proteomics and enabling earlier detection, diagnosis and monitoring of disease. The company develops technologies designed to measure very low levels of proteins in biological samples, supporting research in areas such as oncology, neurology, immunology and other complex diseases.

Its primary technology is the NULISA platform, a highly sensitive, multiplexed immunoassay system that combines affinity-based protein detection with digital counting.