Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $3,304,428.49 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $32.77, for a total value of $3,304,428.49. Following the completion of the transaction, the insider owned 164,191 shares in the company, valued at approximately $5,380,539.07. This represents a 38.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The stock was sold at an average price of $31.39, for a total value of $2,664,822.66.
• On Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.52, for a total value of $4,044,632.48.
• On Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.59, for a total transaction of $4,525,301.06.
• On Thursday, October 22nd, Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock. The shares were sold at an average price of $29.33, for a total transaction 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 transaction of $6,329,182.65.
• 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 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 stock was 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 stock was sold at an average price of $27.73, for a total transaction of $4,812,181.01.

Alamar Biosciences Price Performance

Shares of NASDAQ:ALMR opened at $30.60 on Friday. The company has a market cap of $2.12 billion and a P/E ratio of -15.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. The company has a 50 day moving average of $30.65. Alamar Biosciences, Inc. has a one year low of $18.84 and a one year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last issued its 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, analysts expect that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALMR shares. Weiss Ratings downgraded Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. TD Cowen restated a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Stifel Nicolaus upped their target price on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. increased 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. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alamar Biosciences currently has a consensus rating of “Hold” and an average price target of $31.80.

Institutional Trading of Alamar Biosciences

Several institutional investors have recently modified their holdings of the business. Braidwell LP bought a new position in Alamar Biosciences during the 2nd quarter worth $29,365,000. Wellington Management Group LLP acquired a new position in Alamar Biosciences during the 2nd quarter worth about $12,407,000. State Street Corp bought a new stake in shares of Alamar Biosciences in the 2nd quarter valued at about $3,930,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Alamar Biosciences by 18.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock valued at $2,280,000 after buying an additional 10,461 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Alamar Biosciences in the third quarter valued at about $196,000.

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.