Key Points
- Major shareholder Corporate Gp Vi Ltd. Qiming sold 133,811 Alamar Biosciences shares at an average price of $29.33, generating approximately $3.92 million. The transaction reduced its position by 43.71% to 172,338 shares.
- Qiming also sold more than 600,000 additional shares in several transactions from October 15–21, indicating substantial recent selling by the major shareholder.
- Alamar shares opened at $30.69, while analysts maintain a consensus “Hold” rating and an average price target of $31.80. The company recently reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, better than expectations.
Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $29.33, for a total value of $3,924,676.63. Following the transaction, the insider directly owned 172,338 shares of the company's stock, valued at $5,054,673.54. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 Wednesday, October 21st, Corporate Gp Vi Ltd. Qiming sold 208,815 shares of Alamar Biosciences stock. The shares were 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 shares were 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 transaction of $1,988,880.72.
- 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.
- 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 Alamar Biosciences stock opened at $30.69 on Friday. Alamar Biosciences, Inc. has a 1 year low of $18.84 and a 1 year high of $39.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23. The stock's 50 day moving average is $30.74. The firm has a market cap of $2.13 billion and a P/E ratio of -15.66.
Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.14. The company had revenue of $29.43 million for the quarter. As a group, research analysts expect that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ALMR. TD Cowen restated a "buy" rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Weiss Ratings cut Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their target price 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. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.80.
Check Out Our Latest Report on ALMR
Institutional Trading of Alamar Biosciences
A number of hedge funds have recently bought and sold shares of ALMR. Squarepoint Ops LLC purchased a new position in shares of Alamar Biosciences during the 2nd quarter worth $283,000. State Street Corp purchased a new stake in shares of Alamar Biosciences in the second quarter valued at $3,930,000. Wellington Management Group LLP purchased a new stake in shares of Alamar Biosciences in the second quarter valued at $12,407,000. Finally, Braidwell LP purchased a new stake in shares of Alamar Biosciences in the second quarter valued at $29,365,000.
Alamar Biosciences Company Profile
(
Get Free Report)
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.
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