Key Points
- Major shareholder Qiming sold 100,117 Alamar Biosciences shares at an average $29.38, worth about $2.94 million, reducing its position by 38.91% to 157,217 shares. The sale followed a series of other share disposals in October and November.
- Alamar shares fell 3% to $30.81 on Friday. The company reported quarterly revenue of $33.55 million and an adjusted loss of $0.19 per share, beating analysts’ loss estimate of $0.22.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $33.00; four analysts rate the stock Buy and three rate it Hold.
Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 100,117 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $29.38, for a total value of $2,941,437.46. Following the transaction, the insider owned 157,217 shares in the company, valued at $4,619,035.46. This represents a 38.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 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 Tuesday, November 3rd, Corporate Gp Vi Ltd. Qiming sold 111,313 shares of Alamar Biosciences stock. The shares were sold at an average price of $29.89, for a total value of $3,327,145.57.
- On Monday, November 2nd, Corporate Gp Vi Ltd. Qiming sold 43,930 shares of Alamar Biosciences stock. The shares were sold at an average price of $29.84, for a total value of $1,310,871.20.
- On Friday, October 30th, Corporate Gp Vi Ltd. Qiming sold 143,706 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.38, for a total value of $4,365,788.28.
- On Wednesday, October 28th, Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock. The stock was sold at an average price of $32.77, for a total value of $3,304,428.49.
- On Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The shares were sold at an average price of $31.39, for a total value of $2,664,822.66.
- On Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.52, for a total value of $4,044,632.48.
- 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 transaction 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 transaction 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 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.
Alamar Biosciences Trading Down 3.0%
NASDAQ:ALMR traded down $0.95 during trading hours on Friday, reaching $30.81. 667,712 shares of the company were exchanged, compared to its average volume of 745,923. The firm has a market cap of $2.14 billion and a PE ratio of -14.33. Alamar Biosciences, Inc. has a twelve month low of $18.84 and a twelve month high of $39.61. The stock's 50-day moving average is $30.25 and its 200-day moving average is $27.16.
Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.03. Alamar Biosciences had a negative net margin of 48.22% and a negative return on equity of 78.71%. The business had revenue of $33.55 million for the quarter. As a group, research analysts anticipate that Alamar Biosciences, Inc. will post -1.29 EPS for the current year.
Institutional Investors Weigh In On Alamar Biosciences
A number of hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Alamar Biosciences in the third quarter valued at about $196,000. Squarepoint Ops LLC acquired a new position in Alamar Biosciences during the second quarter worth about $283,000. Palumbo Wealth Management LLC boosted its position in Alamar Biosciences by 16.5% during the third quarter. Palumbo Wealth Management LLC now owns 16,934 shares of the company's stock worth $577,000 after acquiring an additional 2,402 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Alamar Biosciences during the third quarter worth about $606,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Alamar Biosciences by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company's stock valued at $2,280,000 after acquiring an additional 10,461 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. TD Cowen lifted their price objective on Alamar Biosciences from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. boosted their price objective on 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 raised Alamar Biosciences from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.00.
View Our Latest Analysis on ALMR
About Alamar Biosciences
(
Get Free Report)
Alamar Biosciences is a life sciences tools company that develops technologies for measuring proteins in biological samples. Its products are designed to help researchers study disease biology and support the development of tools for earlier disease detection and precision medicine. The company's offerings include its NULISA platform, which enables sensitive measurement of multiple proteins, and the ARGO HT system, an automated instrument for running assays. Its applications include research into neurodegenerative diseases, cancer and inflammation.
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