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 company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $27.73, for a total value of $4,812,181.01. Following the completion of the sale, the insider owned 182,130 shares in the company, valued at $5,050,464.90. The trade was a 48.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more 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 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 value of $3,674.72.

Alamar Biosciences Trading Up 4.0%

NASDAQ:ALMR traded up $1.02 during trading hours on Monday, reaching $26.30. 550,584 shares of the company traded hands, compared to its average volume of 395,449. The firm has a 50-day moving average price of $31.09. The firm has a market capitalization of $1.82 billion and a PE ratio of -13.42. Alamar Biosciences, Inc. has a 1 year low of $18.84 and a 1 year high of $39.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23.

Alamar Biosciences (NASDAQ:ALMR) last released its quarterly earnings data 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 firm had revenue of $29.43 million for the quarter. As a group, equities analysts anticipate 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 added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in shares of Alamar Biosciences during the 2nd quarter valued at $283,000. State Street Corp bought a new stake in shares of Alamar Biosciences in the second quarter worth $3,930,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences during the second quarter valued at $12,407,000. Finally, Braidwell LP purchased a new stake in Alamar Biosciences during the second quarter valued at $29,365,000.

Analyst Ratings Changes

ALMR has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Stifel Nicolaus lifted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.80.

About Alamar Biosciences

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.