Key Points
- Major shareholder Corporate Gp Vi Ltd. Qiming sold 173,537 Alamar Biosciences shares at an average price of $27.73, generating approximately $4.81 million. The sale reduced its direct ownership by 48.79% to 182,130 shares.
- Alamar reported quarterly revenue of $29.43 million and a loss of $0.22 per share, beating analysts’ expected loss of $0.36 per share. Analysts project a full-year loss of $1.22 per share.
- Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $31.80, compared with the stock’s opening price of $26.30.
Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 173,537 shares of the company's stock in a transaction on 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 completion of the transaction, the insider directly owned 182,130 shares in the company, valued at approximately $5,050,464.90. The trade was a 48.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major 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 value of $3,674.72.
Alamar Biosciences Stock Performance
Shares of ALMR stock opened at $26.30 on Tuesday. The stock has a fifty day moving average price of $31.06. Alamar Biosciences, Inc. has a 1 year low of $18.84 and a 1 year high of $39.61. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $29.43 million for the quarter. Equities research analysts anticipate that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ALMR. Weiss Ratings raised shares of Alamar Biosciences from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Stifel Nicolaus upped their price objective on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price objective on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, TD Cowen reiterated a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.80.
Check Out Our Latest Stock Report on ALMR
Hedge Funds Weigh In On Alamar Biosciences
A number of institutional investors have recently modified their holdings of the stock. Braidwell LP acquired a new position in shares of Alamar Biosciences in the 2nd quarter valued at about $29,365,000. Wellington Management Group LLP purchased a new stake in shares of Alamar Biosciences in the second quarter worth about $12,407,000. State Street Corp acquired a new stake in Alamar Biosciences during the second quarter worth about $3,930,000. Finally, Squarepoint Ops LLC acquired a new stake in Alamar Biosciences during the second quarter worth about $283,000.
About Alamar Biosciences
(
Get Free Report)
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.
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