Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $4,812,181.01 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 173,537 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.73, for a total value of $4,812,181.01. Following the sale, the insider directly owned 182,130 shares in the company, valued at approximately $5,050,464.90. The trade was a 48.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 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 Tuesday, October 20th, Corporate Gp Vi Ltd. Qiming sold 142,004 shares of Alamar Biosciences stock. The shares were sold at an average price of $27.89, for a total value 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 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.

Alamar Biosciences Stock Performance

NASDAQ:ALMR opened at $31.45 on Thursday. 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 market cap of $2.18 billion and a PE ratio of -16.05. The company has a quick ratio of 10.23, a current ratio of 11.85 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $30.86.

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 firm had revenue of $29.43 million for the quarter. On average, research analysts forecast that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.

Institutional Investors Weigh In On Alamar Biosciences

A number of large investors have recently made changes to their positions in ALMR. Squarepoint Ops LLC purchased a new stake in Alamar Biosciences during the 2nd quarter valued at about $283,000. State Street Corp acquired a new position in shares of Alamar Biosciences in the second quarter valued at about $3,930,000. Wellington Management Group LLP acquired a new position in shares of Alamar Biosciences in the second quarter valued at about $12,407,000. Finally, Braidwell LP purchased a new position in shares of Alamar Biosciences in the second quarter worth about $29,365,000.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a research 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, Weiss Ratings raised Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.