1,083,983 Shares in Alamar Biosciences, Inc. $ALMR Purchased by Braidwell LP

Key Points

• Braidwell LP purchased 1,083,983 shares of Alamar Biosciences in the second quarter, valued at approximately $29.4 million and representing a 1.56% stake. Wellington Management also acquired an approximately $12.4 million position.
• Analyst sentiment is mixed: four analysts rate the stock Buy, two Hold, and one Sell. The consensus rating is Hold, with an average price target of $31.80; Stifel and JPMorgan recently raised their targets to $32 and $35, respectively.
• Alamar reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, beating the consensus loss estimate of $0.36. Shares opened at $30.49, while the stock’s 52-week range is $18.84 to $38.54.

Braidwell LP purchased a new stake in shares of Alamar Biosciences, Inc. (NASDAQ:ALMR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,083,983 shares of the company's stock, valued at approximately $29,365,000. Braidwell LP owned about 1.56% of Alamar Biosciences at the end of the most recent quarter.

Separately, Wellington Management Group LLP bought a new stake in Alamar Biosciences in the 2nd quarter worth approximately $12,407,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALMR shares. Stifel Nicolaus increased their target price on Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Alamar Biosciences to a "hold" rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Leerink Partners began coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Weiss Ratings started coverage on shares of Alamar Biosciences in a research note on Tuesday, August 11th. They issued a "sell (d+)" rating for the company. Four equities 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 company's stock. According to data from MarketBeat.com, Alamar Biosciences currently has a consensus rating of "Hold" and an average price target of $31.80.

Alamar Biosciences Price Performance

Shares of NASDAQ ALMR opened at $30.49 on Thursday. Alamar Biosciences, Inc. has a 1 year low of $18.84 and a 1 year high of $38.54. The stock has a 50-day moving average price of $28.50. The company has a market capitalization of $2.12 billion and a P/E ratio of -15.56. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last issued its quarterly earnings results 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. As a group, equities research analysts expect that Alamar Biosciences, Inc. will post -1.23 EPS for the current year.

About Alamar Biosciences

Our mission is to power precision proteomics to enable the earliest detection of disease. We are a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Our proprietary NULISA technology was purpose-built to address the limitations of existing proteomics tools by detecting protein biomarkers at extremely low concentrations in non-invasive biological fluids, such as blood, with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation.

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