Key Points
- Major shareholder Corporate Gp Vi Ltd. Qiming sold 132,524 Alamar Biosciences shares at an average of $30.52, generating approximately $4.04 million. The sale reduced its position by 44.18%, to 167,438 shares.
- Qiming has made a series of additional sales since October 15, totaling more than 881,000 shares across the disclosed transactions, signaling a substantial reduction in its Alamar stake.
- Alamar reported quarterly revenue of $29.43 million and a loss of $0.22 per share, beating analysts’ expected loss of $0.36. Analyst views remain mixed, with a consensus “Hold” rating and an average price target of $31.80.
Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 132,524 shares of the firm's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $30.52, for a total transaction of $4,044,632.48. Following the completion of the transaction, the insider directly owned 167,438 shares in the company, valued at approximately $5,110,207.76. The trade was a 44.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.59, for a total value of $4,525,301.06.
- On Thursday, October 22nd, Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock. The stock was sold at an average price of $29.33, for a total value of $3,924,676.63.
- 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 value 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 value of $3,960,491.56.
- On Monday, October 19th, Corporate Gp Vi Ltd. Qiming sold 75,508 shares of Alamar Biosciences stock. The stock was 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 value of $4,812,181.01.
Alamar Biosciences Stock Performance
Shares of NASDAQ:ALMR opened at $31.93 on Wednesday. The firm's 50 day moving average is $30.73. Alamar Biosciences, Inc. has a 12-month low of $18.84 and a 12-month high of $39.61.
Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last released its quarterly 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 during the quarter. As a group, research analysts predict that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently issued reports on ALMR. Stifel Nicolaus upped their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. TD Cowen reiterated a "buy" rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Alamar Biosciences presently has a consensus rating of "Hold" and an average price target of $31.80.
Check Out Our Latest Stock Report on Alamar Biosciences
Hedge Funds Weigh In On Alamar Biosciences
Several institutional investors have recently bought and sold shares of ALMR. Braidwell LP bought a new position in Alamar Biosciences during the second quarter valued at $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences in the second quarter worth $12,407,000. State Street Corp purchased a new stake in Alamar Biosciences in the second quarter worth $3,930,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Alamar Biosciences in the second quarter valued at $283,000.
About Alamar Biosciences
(
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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