Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $3,327,145.57 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 111,313 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $29.89, for a total value of $3,327,145.57. Following the sale, the insider directly owned 158,967 shares of the company’s stock, valued at $4,751,523.63. This represents a 41.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock 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, November 2nd, Corporate Gp Vi Ltd. Qiming sold 43,930 shares of Alamar Biosciences stock. The shares were sold at an average price of $29.84, for a total transaction of $1,310,871.20.
• On Friday, October 30th, Corporate Gp Vi Ltd. Qiming sold 143,706 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.38, for a total value of $4,365,788.28.
• On Wednesday, October 28th, Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock. The shares were sold at an average price of $32.77, for a total transaction of $3,304,428.49.
• On Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The stock was sold at an average price of $31.39, for a total transaction of $2,664,822.66.
• On Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.52, for a total value of $4,044,632.48.
• On Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.59, for a total value of $4,525,301.06.
• 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 shares were 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 shares were 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 stock was sold at an average price of $26.34, for a total transaction of $1,988,880.72.

Alamar Biosciences Stock Performance

NASDAQ:ALMR opened at $28.05 on Friday. The stock has a market cap of $1.95 billion and a P/E ratio of -14.31. Alamar Biosciences, Inc. has a twelve month low of $18.84 and a twelve month high of $39.61. The stock’s 50 day moving average is $30.14.

Alamar Biosciences (NASDAQ:ALMR) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. Alamar Biosciences had a negative net margin of 48.22% and a negative return on equity of 78.71%. The business had revenue of $33.55 million during the quarter. As a group, research analysts anticipate that Alamar Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALMR shares. JPMorgan Chase & Co. increased their price objective on shares of 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 downgraded shares of Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Stifel Nicolaus upped their price target on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, TD Cowen increased their price target on Alamar Biosciences from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alamar Biosciences presently has an average rating of “Hold” and an average target price of $33.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Alamar Biosciences by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock worth $2,280,000 after purchasing an additional 10,461 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Alamar Biosciences in the third quarter valued at about $196,000. State Street Corp acquired a new position in Alamar Biosciences in the second quarter valued at about $3,930,000. Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the second quarter worth about $283,000. Finally, Braidwell LP purchased a new position in Alamar Biosciences during the second quarter worth about $29,365,000.

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.