Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $3,960,491.56 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 142,004 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $27.89, for a total transaction of $3,960,491.56. Following the sale, the insider owned 178,326 shares in the company, valued at $4,973,512.14. This trade represents a 44.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, October 22nd, Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock. The stock was sold at an average price of $29.33, for a total value of $3,924,676.63.
• On Wednesday, October 21st, Corporate Gp Vi Ltd. Qiming sold 208,815 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.31, for a total value of $6,329,182.65.
• On Monday, October 19th, Corporate Gp Vi Ltd. Qiming sold 75,508 shares of Alamar Biosciences stock. The shares were sold at an average price of $26.34, for a total value of $1,988,880.72.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The shares were sold at an average price of $27.02, for a total transaction 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 3.3%

ALMR stock opened at $30.69 on Friday. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $30.74. Alamar Biosciences, Inc. has a 12-month low of $18.84 and a 12-month high of $39.61. The firm has a market capitalization of $2.13 billion and a price-to-earnings ratio of -15.66.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Braidwell LP bought a new position in Alamar Biosciences during the second quarter worth about $29,365,000. Wellington Management Group LLP bought a new position in Alamar Biosciences during the 2nd quarter worth about $12,407,000. State Street Corp acquired a new position in Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC bought a new position in shares of Alamar Biosciences in the 2nd quarter valued at about $283,000.

Analyst Ratings Changes

A number of equities analysts recently commented on ALMR shares. JPMorgan Chase & Co. lifted their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note 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 reaffirmed a “buy” rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Finally, Stifel Nicolaus raised their price target on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alamar Biosciences 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.