Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $4,525,301.06 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 147,934 shares of the company’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $30.59, for a total transaction of $4,525,301.06. Following the completion of the sale, the insider directly owned 169,753 shares in the company, valued at $5,192,744.27. This represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.52, for a total transaction of $4,044,632.48.
• 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 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.
• 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 shares were sold at an average price of $27.73, for a total transaction of $4,812,181.01.

Alamar Biosciences Stock Performance

Shares of ALMR traded up $1.54 during mid-day trading on Tuesday, reaching $31.93. The company had a trading volume of 508,078 shares, compared to its average volume of 410,608. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23. The stock’s 50-day moving average is $30.79. Alamar Biosciences, Inc. has a 52 week low of $18.84 and a 52 week high of $39.61. The stock has a market capitalization of $2.22 billion and a P/E ratio of -16.29.

Alamar Biosciences (NASDAQ:ALMR) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $29.43 million during the quarter. As a group, research analysts forecast that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alamar Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Braidwell LP purchased a new position in shares of Alamar Biosciences during the 2nd quarter worth $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences in the 2nd quarter worth approximately $12,407,000. State Street Corp bought a new stake in Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the second quarter valued at approximately $283,000.

Analyst Upgrades and Downgrades

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