Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $2,941,437.46 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 100,117 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $29.38, for a total value of $2,941,437.46. Following the completion of the sale, the insider directly owned 157,217 shares of the company’s stock, valued at approximately $4,619,035.46. This represents a 38.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Tuesday, November 3rd, Corporate Gp Vi Ltd. Qiming sold 111,313 shares of Alamar Biosciences stock. The stock was sold at an average price of $29.89, for a total value of $3,327,145.57.
• On Monday, November 2nd, Corporate Gp Vi Ltd. Qiming sold 43,930 shares of Alamar Biosciences stock. The shares were sold at an average price of $29.84, for a total transaction of $1,310,871.20.
• On Friday, October 30th, Corporate Gp Vi Ltd. Qiming sold 143,706 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.38, for a total transaction of $4,365,788.28.
• On Wednesday, October 28th, Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock. The stock was sold at an average price of $32.77, for a total transaction of $3,304,428.49.
• 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 transaction 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 transaction of $4,044,632.48.
• 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 transaction of $4,525,301.06.
• 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 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 transaction of $6,329,182.65.
• 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.

Alamar Biosciences Price Performance

Shares of ALMR traded down $0.95 during trading hours on Friday, reaching $30.81. 667,712 shares of the company traded hands, compared to its average volume of 745,923. The business has a fifty day moving average price of $30.25 and a 200-day moving average price of $27.16. Alamar Biosciences, Inc. has a 12-month low of $18.84 and a 12-month high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last issued its earnings results on Wednesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. The company had revenue of $33.55 million during the quarter. Alamar Biosciences had a negative return on equity of 78.71% and a negative net margin of 48.22%. On average, equities research analysts predict that Alamar Biosciences, Inc. will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Alamar Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Palumbo Wealth Management LLC boosted its stake in shares of Alamar Biosciences by 16.5% in the third quarter. Palumbo Wealth Management LLC now owns 16,934 shares of the company’s stock worth $577,000 after buying an additional 2,402 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Alamar Biosciences during the third quarter worth about $196,000. Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the second quarter valued at approximately $283,000. Sumitomo Mitsui Trust Group Inc. raised its position in Alamar Biosciences by 18.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock valued at $2,280,000 after acquiring an additional 10,461 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Alamar Biosciences in the third quarter valued at approximately $606,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. TD Cowen increased their price target on shares of Alamar Biosciences from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Stifel Nicolaus raised their price target on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alamar Biosciences has an average rating of “Moderate Buy” and an average price target of $33.00.

About Alamar Biosciences

Alamar Biosciences is a life sciences tools company that develops technologies for measuring proteins in biological samples. Its products are designed to help researchers study disease biology and support the development of tools for earlier disease detection and precision medicine. The company’s offerings include its NULISA platform, which enables sensitive measurement of multiple proteins, and the ARGO HT system, an automated instrument for running assays. Its applications include research into neurodegenerative diseases, cancer and inflammation.