Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $4,365,788.28 in Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 143,706 shares of the business’s stock in a transaction dated 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 sale, the insider owned 161,679 shares in the company, valued at $4,911,808.02. This represents a 47.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 shares were 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 transaction of $3,304,428.49.
• On Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The stock was sold at an average price of $31.39, for a total transaction 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 transaction of $4,044,632.48.
• On Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.59, for a total transaction 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 transaction 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 shares were 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 shares were 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 Trading Up 4.4%

Shares of NASDAQ ALMR traded up $1.28 during trading on Tuesday, reaching $30.22. The company had a trading volume of 673,925 shares, compared to its average volume of 423,943. Alamar Biosciences, Inc. has a twelve month low of $18.84 and a twelve month high of $39.61. The stock has a market capitalization of $2.10 billion and a PE ratio of -15.42. The business’s 50-day simple moving average is $30.54. The company has a quick ratio of 10.23, a current ratio of 11.85 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The company had revenue of $33.55 million for the quarter. On average, sell-side analysts predict that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALMR. 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 research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Weiss Ratings lowered 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 report on Wednesday, July 15th. 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’s stock. According to MarketBeat.com, Alamar Biosciences currently has a consensus rating of “Hold” and a consensus price target of $31.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Braidwell LP purchased a new position in shares of Alamar Biosciences during the 2nd quarter worth about $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences in the second quarter valued at approximately $12,407,000. State Street Corp acquired a new position in Alamar Biosciences during the second quarter worth approximately $3,930,000. Sumitomo Mitsui Trust Group Inc. increased 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 worth $2,280,000 after purchasing an additional 10,461 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the second quarter worth approximately $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.