Short Interest in Alamar Biosciences, Inc. (NASDAQ:ALMR) Grows By ∞

Alamar Biosciences, Inc. (NASDAQ:ALMR) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 1,153,031 shares, an increase of ∞ from the April 15th total of 0 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 776,628 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity

In other Alamar Biosciences news, Director Nicholas Naclerio purchased 235,294 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average cost of $17.00 per share, with a total value of $3,999,998.00. Following the acquisition, the director owned 507,076 shares in the company, valued at approximately $8,620,292. This trade represents a 86.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Innovation Fund Gp Illumina II purchased 235,294 shares of the company’s stock in a transaction on Monday, April 20th. The stock was acquired at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the completion of the purchase, the insider directly owned 507,076 shares in the company, valued at $8,620,292. This trade represents a 86.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Ratings Changes

A number of brokerages have issued reports on ALMR. Leerink Partners began coverage on shares of Alamar Biosciences in a report on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 price target on the stock. Bank of America began coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They set a “neutral” rating and a $27.00 price objective for the company. Stifel Nicolaus assumed coverage on Alamar Biosciences in a research report on Tuesday. They issued a “buy” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. began coverage on Alamar Biosciences in a research note on Tuesday, May 12th. They set an “overweight” rating and a $30.00 price target for the company. Finally, TD Cowen began coverage on Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Alamar Biosciences has an average rating of “Moderate Buy” and an average target price of $30.00.

Alamar Biosciences Trading Down 4.3%

ALMR stock opened at $21.54 on Friday. Alamar Biosciences has a 52 week low of $21.50 and a 52 week high of $27.20.

Alamar Biosciences (NASDAQ:ALMR) last announced its earnings results on Friday, May 8th. The company reported ($1.74) earnings per share (EPS) for the quarter. The firm had revenue of $26.04 million for the quarter.

About Alamar Biosciences

Our mission is to power precision proteomics to enable the earliest detection of disease. We are a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Our proprietary NULISA technology was purpose-built to address the limitations of existing proteomics tools by detecting protein biomarkers at extremely low concentrations in non-invasive biological fluids, such as blood, with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation.