Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Rated “Moderate Buy” by Wall Street Brokerages

Alamar Biosciences, Inc. (NASDAQ:ALMR) has been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.00.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Stifel Nicolaus raised their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Finally, TD Cowen boosted their price target on Alamar Biosciences from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th.

Insiders Place Their Bets

In other news, major shareholder Corporate Gp Vi Ltd. Qiming sold 208,815 shares of the company’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $30.31, for a total transaction of $6,329,182.65. Following the completion of the sale, the insider directly owned 174,677 shares in the company, valued at approximately $5,294,459.87. This represents a 54.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 1,498,949 shares of company stock valued at $44,562,077.

Institutional Trading of Alamar Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of ALMR. Braidwell LP acquired a new position in shares of Alamar Biosciences in the second quarter valued at approximately $29,365,000. Wellington Management Group LLP acquired a new stake in shares of Alamar Biosciences in the second quarter valued at about $12,407,000. State Street Corp bought a new position in shares of Alamar Biosciences during the second quarter worth about $3,930,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Alamar Biosciences by 18.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock worth $2,280,000 after acquiring an additional 10,461 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Alamar Biosciences in the second quarter worth approximately $283,000.

Alamar Biosciences Stock Performance

Shares of Alamar Biosciences stock opened at $31.84 on Tuesday. The firm has a 50-day moving average of $30.16 and a 200-day moving average of $27.04. Alamar Biosciences has a 52-week low of $18.84 and a 52-week 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 results on Wednesday, November 4th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.03. The business had revenue of $33.55 million during the quarter. As a group, equities analysts forecast that Alamar Biosciences will post -1.29 earnings per share for the current fiscal year.

Alamar Biosciences Company Profile