Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $4,044,632.48 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 132,524 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $30.52, for a total value of $4,044,632.48. Following the transaction, the insider owned 167,438 shares of the company’s stock, valued at $5,110,207.76. This trade represents a 44.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more 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 Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.59, for a total value 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 value of $3,924,676.63.
• On Wednesday, October 21st, Corporate Gp Vi Ltd. Qiming sold 208,815 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.31, for a total value 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 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 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 stock was sold at an average price of $27.73, for a total transaction of $4,812,181.01.

Alamar Biosciences Trading Up 5.1%

Shares of Alamar Biosciences stock traded up $1.54 during mid-day trading on Tuesday, reaching $31.93. 508,078 shares of the stock were exchanged, compared to its average volume of 410,608. The company has a market capitalization of $2.22 billion and a P/E ratio of -16.29. 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 company has a 50-day simple moving average of $30.79. Alamar Biosciences, Inc. has a fifty-two week low of $18.84 and a fifty-two week high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last released its quarterly 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 during the quarter. On average, research analysts predict that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Alamar Biosciences

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALMR. Weiss Ratings cut shares of Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. TD Cowen restated a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Stifel Nicolaus lifted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.