Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 208,815 Shares of Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 208,815 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $30.31, for a total transaction of $6,329,182.65. Following the completion of the transaction, the insider owned 174,677 shares in the company, valued at $5,294,459.87. This represents a 54.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 transaction of $3,924,676.63.
• 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 transaction of $3,960,491.56.
• 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 transaction 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 transaction of $4,812,181.01.

Alamar Biosciences Price Performance

NASDAQ:ALMR traded up $0.97 during midday trading on Friday, hitting $30.69. 748,124 shares of the company were exchanged, compared to its average volume of 772,442. The stock has a fifty day moving average of $30.74. Alamar Biosciences, Inc. has a fifty-two week low of $18.84 and a fifty-two week high of $39.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

Alamar Biosciences Company Profile

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.