Alamar Biosciences, Inc. (NASDAQ:ALMR) Short Interest Up ∞ in April

Alamar Biosciences, Inc. (NASDAQ:ALMR) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 1,153,031 shares, an increase of ∞ from the April 15th total of 0 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 776,628 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling at Alamar Biosciences

In other news, major shareholder Innovation Fund Gp Illumina II bought 235,294 shares of Alamar Biosciences stock in a transaction dated Monday, April 20th. The shares were acquired at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the completion of the purchase, the insider owned 507,076 shares in the company, valued at $8,620,292. The trade was a 86.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nicholas Naclerio bought 235,294 shares of the stock in a transaction dated Monday, April 20th. The stock was purchased at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the acquisition, the director directly owned 507,076 shares in the company, valued at approximately $8,620,292. The trade was a 86.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Alamar Biosciences Stock Down 4.3%

Shares of NASDAQ:ALMR opened at $21.54 on Friday. Alamar Biosciences has a one year low of $21.50 and a one year high of $27.20.

Alamar Biosciences (NASDAQ:ALMR) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.74) earnings per share (EPS) for the quarter. The company had revenue of $26.04 million during the quarter.

Analyst Ratings Changes

ALMR has been the topic of a number of recent analyst reports. Zacks Research raised shares of Alamar Biosciences to a “hold” rating in a research report on Wednesday. TD Cowen started coverage on Alamar Biosciences in a research report on Tuesday. They set a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Alamar Biosciences in a report on Tuesday, May 12th. They issued an “overweight” rating and a $30.00 price target on the stock. Leerink Partners began coverage on Alamar Biosciences in a research note on Tuesday, May 12th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Bank of America initiated coverage on Alamar Biosciences in a report on Tuesday, May 12th. They set a “neutral” rating and a $27.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Alamar Biosciences has an average rating of “Moderate Buy” and a consensus price target of $30.00.

About Alamar Biosciences

Our mission is to power precision proteomics to enable the earliest detection of disease. We are a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Our proprietary NULISA technology was purpose-built to address the limitations of existing proteomics tools by detecting protein biomarkers at extremely low concentrations in non-invasive biological fluids, such as blood, with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation.