Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 75,508 Shares of Company Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 75,508 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $26.34, for a total transaction of $1,988,880.72. Following the completion of the sale, the insider owned 180,808 shares in the company, valued at approximately $4,762,482.72. This trade represents a 29.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 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 transaction of $3,960,491.56.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The shares were 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 stock was sold at an average price of $27.73, for a total transaction of $4,812,181.01.

Alamar Biosciences Price Performance

Shares of ALMR opened at $31.45 on Thursday. The stock has a 50 day simple moving average of $30.86. The firm has a market cap of $2.18 billion and a PE ratio of -16.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23. Alamar Biosciences, Inc. has a 12-month low of $18.84 and a 12-month high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last released its earnings results on Tuesday, August 11th. The company reported ($0.22) 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, equities research analysts forecast that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALMR has been the topic of several research reports. Weiss Ratings raised Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. 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 report on Tuesday, August 11th. TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Finally, Stifel Nicolaus lifted their target price on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Alamar Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $31.80.

Institutional Trading of Alamar Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Alamar Biosciences during the 2nd quarter worth about $12,407,000. Braidwell LP acquired a new position in shares of Alamar Biosciences in the second quarter worth about $29,365,000. State Street Corp purchased a new position in shares of Alamar Biosciences in the second quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Alamar Biosciences in 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.