Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Has Consensus Target Price of $31.80 According to Analysts

Alamar Biosciences, Inc. (NASDAQ:ALMR) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.80.

Several research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Stifel Nicolaus raised their price target 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 restated a “buy” rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th.

Insider Activity at Alamar Biosciences

In other news, major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $32.77, for a total value of $3,304,428.49. Following the completion of the transaction, the insider owned 164,191 shares in the company, valued at $5,380,539.07. The trade was a 38.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 1,200,000 shares of company stock valued at $35,558,272.

Institutional Investors Weigh In On Alamar Biosciences

Several institutional investors have recently modified their holdings of ALMR. Sumitomo Mitsui Trust Group Inc. increased its holdings in Alamar Biosciences by 18.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock worth $2,280,000 after buying an additional 10,461 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Alamar Biosciences in the 3rd quarter worth about $196,000. State Street Corp bought a new position in Alamar Biosciences during the 2nd quarter valued at about $3,930,000. Squarepoint Ops LLC bought a new position in Alamar Biosciences during the 2nd quarter valued at about $283,000. Finally, Braidwell LP bought a new position in Alamar Biosciences during the 2nd quarter valued at about $29,365,000.

Alamar Biosciences Trading Down 5.4%

NASDAQ ALMR opened at $28.94 on Tuesday. The business has a fifty day moving average of $30.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. The stock has a market capitalization of $2.01 billion and a PE ratio of -14.77. Alamar Biosciences has a 12 month low of $18.84 and a 12 month high of $39.61.

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, analysts forecast that Alamar Biosciences will post -1.22 earnings per share for the current fiscal year.

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.