Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 142,004 Shares of Company Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 142,004 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $27.89, for a total transaction of $3,960,491.56. Following the completion of the transaction, the insider directly owned 178,326 shares of the company’s stock, valued at $4,973,512.14. This trade represents a 44.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Monday, October 19th, Corporate Gp Vi Ltd. Qiming sold 75,508 shares of Alamar Biosciences stock. The stock was 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 value 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 value of $4,812,181.01.

Alamar Biosciences Trading Up 11.7%

ALMR stock opened at $31.45 on Thursday. Alamar Biosciences, Inc. has a 1-year low of $18.84 and a 1-year high of $39.61. The company has a market cap of $2.18 billion and a price-to-earnings ratio of -16.05. The firm has a 50 day moving average of $30.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85.

Alamar Biosciences (NASDAQ:ALMR) last issued its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $29.43 million during the quarter. Sell-side analysts forecast that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.

Hedge Funds Weigh In On Alamar Biosciences

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in Alamar Biosciences in the second quarter worth $12,407,000. Braidwell LP bought a new stake in shares of Alamar Biosciences during the second quarter worth $29,365,000. State Street Corp bought a new stake in shares of Alamar Biosciences during the second quarter worth $3,930,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Alamar Biosciences in the second quarter valued at $283,000.

Wall Street Analysts Forecast Growth

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

Alamar Biosciences Company Profile

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.