Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $2,664,822.66 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 84,894 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $31.39, for a total value of $2,664,822.66. Following the sale, the insider owned 165,953 shares in the company, valued at approximately $5,209,264.67. The trade was a 33.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Corporate Gp Vi Ltd. Qiming also recently made the following trade(s):

• 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 value of $3,304,428.49.
• 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 stock was 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 value 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 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 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 Price Performance

ALMR stock opened at $30.60 on Friday. The stock has a market cap of $2.12 billion and a P/E ratio of -15.61. Alamar Biosciences, Inc. has a 12 month low of $18.84 and a 12 month high of $39.61. The company has a fifty day simple moving average of $30.65. 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 issued its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, sell-side analysts forecast that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Hedge Funds Weigh In On Alamar Biosciences

Large investors have recently made changes to their positions in the company. Braidwell LP acquired a new position in shares of Alamar Biosciences in the 2nd quarter valued at $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences during the second quarter worth $12,407,000. State Street Corp acquired a new stake in Alamar Biosciences during the second quarter valued at $3,930,000. Sumitomo Mitsui Trust Group Inc. grew its position in Alamar Biosciences by 18.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock valued at $2,280,000 after buying an additional 10,461 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Alamar Biosciences during the second quarter valued at $283,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALMR. JPMorgan Chase & Co. increased their price target on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Stifel Nicolaus boosted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings downgraded Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Finally, TD Cowen restated a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.