Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Alamar Biosciences has a consensus “Hold” rating from seven analysts, with four buys, two holds and one sell; the average 12-month price target is $31.80.
• Analyst views were mixed, with Weiss Ratings downgrading the stock to “Sell,” while JPMorgan and Stifel raised their price targets and maintained bullish ratings.
• A major shareholder sold 100,837 shares, and insiders have sold 1.2 million shares worth about $35.6 million over the past three months. The company’s latest quarterly loss of $0.22 per share beat estimates, alongside $29.43 million in revenue.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) has received a consensus rating of "Hold" from the seven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.80.

A number of brokerages recently commented on ALMR. Weiss Ratings downgraded Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 23rd. TD Cowen reiterated a "buy" rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective 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, Stifel Nicolaus boosted their price objective on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th.

Insider Activity at Alamar Biosciences

In other news, major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $32.77, for a total transaction of $3,304,428.49. Following the sale, the insider owned 164,191 shares of the company's stock, valued at approximately $5,380,539.07. The trade was a 38.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,200,000 shares of company stock valued at $35,558,272.

Hedge Funds Weigh In On Alamar Biosciences

A number of institutional investors have recently bought and sold shares of ALMR. Braidwell LP bought a new stake in shares of Alamar Biosciences during the 2nd quarter valued at $29,365,000. Wellington Management Group LLP bought a new position in shares of Alamar Biosciences in the 2nd quarter worth about $12,407,000. State Street Corp bought a new position in shares of Alamar Biosciences in the 2nd quarter worth about $3,930,000. Sumitomo Mitsui Trust Group Inc. lifted its position 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 during the period. Finally, Squarepoint Ops LLC purchased a new position in Alamar Biosciences during the 2nd quarter valued at about $283,000.

Alamar Biosciences Price Performance

Shares of NASDAQ:ALMR opened at $28.94 on Tuesday. The firm's 50-day simple moving average is $30.54. The stock has a market cap of $2.01 billion and a P/E ratio of -14.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. Alamar Biosciences has a 1 year low of $18.84 and a 1 year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million during the quarter. Analysts expect that Alamar Biosciences will post -1.22 EPS for the current fiscal year.

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.

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