Alamar Biosciences, Inc. $ALMR Shares Newly Bought by State Street Corp

Key Points

• State Street Corp acquired 145,059 Alamar Biosciences shares valued at approximately $3.93 million, representing a 0.21% stake. Other institutions, including Braidwell and Wellington Management, also initiated positions during the second quarter.
• Analyst sentiment is mixed: four analysts rate ALMR a Buy, two rate it Hold and one rates it Sell. The average rating is Hold, with an average price target of $31.80.
• Alamar reported quarterly revenue of $29.43 million and an EPS loss of $0.22, beating the consensus loss estimate of $0.36. Shares opened at $32.80, while the company remains unprofitable and analysts expect a full-year loss of $1.23 per share.

State Street Corp acquired a new position in shares of Alamar Biosciences, Inc. (NASDAQ:ALMR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 145,059 shares of the company's stock, valued at approximately $3,930,000. State Street Corp owned 0.21% of Alamar Biosciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Braidwell LP bought a new stake in Alamar Biosciences in the second quarter valued at $29,365,000. Wellington Management Group LLP bought a new position in shares of Alamar Biosciences during the second quarter worth about $12,407,000. Finally, Squarepoint Ops LLC bought a new position in Alamar Biosciences in the 2nd quarter worth about $283,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALMR. Weiss Ratings started coverage on Alamar Biosciences in a report on Tuesday, August 11th. They issued a "sell (d+)" rating for the company. Stifel Nicolaus boosted their price target on Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Alamar Biosciences from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, TD Cowen reissued a "buy" rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Four investment 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, the stock presently has an average rating of "Hold" and an average target price of $31.80.

Alamar Biosciences Stock Down 1.2%

Shares of Alamar Biosciences stock opened at $32.80 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. The firm has a market capitalization of $2.28 billion and a price-to-earnings ratio of -16.73. The company has a fifty day moving average price of $30.05. Alamar Biosciences, Inc. has a fifty-two week low of $18.84 and a fifty-two week high of $38.54.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.14. The firm had revenue of $29.43 million for the quarter. Analysts anticipate that Alamar Biosciences, Inc. will post -1.23 earnings per share for the current fiscal year.

Alamar Biosciences Profile

Alamar Biosciences, Inc is a life sciences company developing technologies for highly sensitive protein detection and analysis. Its products are designed to help researchers identify and measure low-abundance biomarkers associated with diseases, including cancer, neurodegenerative disorders and immune-related conditions.

The company's principal technology is the NULISA platform, which uses digital immunoassay methods to improve the sensitivity and multiplexing of protein biomarker analysis.

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