Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 208,815 Shares of Company Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 208,815 shares of Alamar Biosciences stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $30.31, for a total transaction of $6,329,182.65. Following the sale, the insider owned 174,677 shares in the company, valued at approximately $5,294,459.87. The trade was a 54.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $3,924,676.63.
• 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 shares were 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 stock was 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 Stock Up 3.3%

Shares of Alamar Biosciences stock opened at $30.69 on Friday. The firm’s 50-day moving average price is $30.74. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.13 billion and a price-to-earnings ratio of -15.66. Alamar Biosciences, Inc. has a twelve month low of $18.84 and a twelve month high of $39.61.

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. On average, equities analysts expect that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Alamar Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in shares of Alamar Biosciences in the 2nd quarter valued at $3,930,000. Squarepoint Ops LLC purchased a new position in shares of Alamar Biosciences during the 2nd quarter worth $283,000. Braidwell LP acquired a new stake in shares of Alamar Biosciences during the 2nd quarter worth about $29,365,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Alamar Biosciences during the 2nd quarter worth about $12,407,000.

About Alamar Biosciences

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.