Wellington Management Group LLP Purchases Shares of 457,974 Alamar Biosciences, Inc. $ALMR

Key Points

• Wellington Management Group acquired 457,974 shares of Alamar Biosciences, valued at approximately $12.4 million, representing a 0.66% stake.
• Alamar reported quarterly revenue of $29.43 million and an adjusted EPS loss of $0.22, beating analysts’ expected loss of $0.36 per share.
• Analyst sentiment is mixed but leans positive: the stock has an average “Hold” rating and a consensus price target of $31.80, compared with a recent price of $30.80.

Wellington Management Group LLP acquired a new position in Alamar Biosciences, Inc. (NASDAQ:ALMR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 457,974 shares of the company's stock, valued at approximately $12,407,000. Wellington Management Group LLP owned 0.66% of Alamar Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Alamar Biosciences Price Performance

Alamar Biosciences stock opened at $30.80 on Tuesday. The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of -15.71. The business's fifty day moving average is $28.72. Alamar Biosciences, Inc. has a 52-week low of $18.84 and a 52-week high of $38.54. The company has a quick ratio of 10.23, a current ratio of 11.85 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $29.43 million during the quarter. On average, equities research analysts predict that Alamar Biosciences, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Leerink Partners assumed coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They issued an "outperform" rating and a $35.00 price target on the stock. TD Cowen reiterated a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. 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 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 lifted their target price on Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Alamar Biosciences currently has an average rating of "Hold" and an average price target of $31.80.

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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