Alamar Biosciences (NASDAQ:ALMR) Stock: Insider Corporate Gp Vi Ltd. Qiming Sells 143,706 Shares

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 143,706 shares of Alamar Biosciences stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $30.38, for a total transaction of $4,365,788.28. Following the completion of the transaction, the insider owned 161,679 shares of the company’s stock, valued at $4,911,808.02. This represents a 47.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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, November 2nd, Corporate Gp Vi Ltd. Qiming sold 43,930 shares of Alamar Biosciences stock. The stock was sold at an average price of $29.84, for a total transaction of $1,310,871.20.
• 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 Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The shares were sold at an average price of $31.39, for a total value of $2,664,822.66.
• On Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The shares were 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 stock was 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 value 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 value 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 value of $1,988,880.72.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The stock was sold at an average price of $27.02, for a total value of $3,674.72.

Alamar Biosciences Stock Up 4.4%

Alamar Biosciences stock traded up $1.28 during mid-day trading on Tuesday, hitting $30.22. The company had a trading volume of 673,925 shares, compared to its average volume of 423,943. The stock has a market cap of $2.10 billion and a PE ratio of -15.42. Alamar Biosciences, Inc. has a 1 year low of $18.84 and a 1 year high of $39.61. 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 business has a fifty day moving average of $30.54.

Alamar Biosciences (NASDAQ:ALMR) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $33.55 million for the quarter. Equities analysts anticipate that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Stifel Nicolaus increased their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings downgraded Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.80.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALMR. Braidwell LP purchased a new stake in shares of Alamar Biosciences during the 2nd quarter worth approximately $29,365,000. Wellington Management Group LLP purchased a new position in Alamar Biosciences in the 2nd quarter valued at approximately $12,407,000. State Street Corp purchased a new position in Alamar Biosciences in the 2nd quarter valued at approximately $3,930,000. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 worth $2,280,000 after purchasing an additional 10,461 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Alamar Biosciences during the second quarter worth $283,000.

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.