Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells 173,537 Shares of Company Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 173,537 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.73, for a total value of $4,812,181.01. Following the sale, the insider owned 182,130 shares of the company’s stock, valued at approximately $5,050,464.90. This represents a 48.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 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 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.

Alamar Biosciences Price Performance

Shares of NASDAQ:ALMR traded up $1.02 during trading on Monday, hitting $26.30. The company’s stock had a trading volume of 550,584 shares, compared to its average volume of 395,449. The company has a 50-day simple moving average of $31.09. Alamar Biosciences, Inc. has a 12 month low of $18.84 and a 12 month high of $39.61. 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 firm has a market cap of $1.82 billion and a price-to-earnings ratio of -13.42.

Alamar Biosciences (NASDAQ:ALMR) last announced its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, research analysts anticipate that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALMR. Braidwell LP bought a new position in shares of Alamar Biosciences during the 2nd quarter valued at approximately $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences in the 2nd quarter worth approximately $12,407,000. State Street Corp bought a new stake in Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC bought a new stake in Alamar Biosciences during the 2nd quarter worth approximately $283,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALMR. Stifel Nicolaus boosted their price objective on shares of 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 restated a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Alamar Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $31.80.

About Alamar Biosciences

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.