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

Alamar Biosciences, Inc. (NASDAQ:ALMR) was the target of a large 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. Based on an average daily trading volume, of 776,628 shares, the short-interest ratio is presently 1.5 days. Currently, 1.7% of the company’s shares are sold short.

Alamar Biosciences Trading Down 1.7%

Shares of Alamar Biosciences stock traded down $0.36 during trading on Monday, reaching $21.18. 102,476 shares of the company traded hands, compared to its average volume of 308,262. Alamar Biosciences has a 1-year low of $20.90 and a 1-year high of $27.20.

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

Analyst Ratings Changes

Several research firms recently commented on ALMR. Bank of America began coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They set a “neutral” rating and a $27.00 target price on the stock. Zacks Research upgraded shares of Alamar Biosciences to a “hold” rating in a research report on Wednesday, May 13th. Stifel Nicolaus assumed coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They issued a “buy” rating and a $28.00 price target on the stock. TD Cowen assumed coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Leerink Partners assumed coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insider Activity at Alamar Biosciences

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

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.