Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 133,811 Shares of Stock

Alamar Biosciences, Inc. (NASDAQ:ALMR) major shareholder Corporate Gp Vi Ltd. Qiming sold 133,811 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $29.33, for a total transaction of $3,924,676.63. Following the completion of the sale, the insider directly owned 172,338 shares of the company’s stock, valued at $5,054,673.54. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 transaction of $6,329,182.65.
• 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 value of $1,988,880.72.
• 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 value 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 Price Performance

NASDAQ:ALMR opened at $30.69 on Friday. 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 cap of $2.13 billion and a price-to-earnings ratio of -15.66. The firm has a fifty day moving average price of $30.74. Alamar Biosciences, Inc. has a 1-year low of $18.84 and a 1-year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $29.43 million for the quarter. As a group, analysts expect that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALMR has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of 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. Based on data from MarketBeat.com, Alamar Biosciences presently has an average rating of “Hold” and an average target price of $31.80.

Institutional Investors Weigh In On Alamar Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp purchased a new stake in shares of Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Squarepoint Ops LLC purchased a new position in Alamar Biosciences in the 2nd quarter valued at approximately $283,000. Braidwell LP purchased a new position in Alamar Biosciences in the 2nd quarter valued at approximately $29,365,000. Finally, Wellington Management Group LLP acquired a new position in Alamar Biosciences during the second quarter worth $12,407,000.

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.