Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 133,811 Shares of Stock

Key Points

• Major shareholder Corporate Gp Vi Ltd. Qiming sold 133,811 Alamar Biosciences shares at an average price of $29.33, generating approximately $3.92 million. The sale reduced its position by 43.71%, to 172,338 shares.
• Qiming has sold more than 633,000 additional shares in related transactions since October 15, indicating a significant reduction in its Alamar stake.
• Alamar shares recently traded at $30.69, while analysts maintain a “Moderate Buy” consensus with an average price target of $31.80. The company reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, beating estimates.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 133,811 shares of the company's stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $29.33, for a total transaction of $3,924,676.63. Following the sale, the insider owned 172,338 shares of the company's stock, valued at $5,054,673.54. The trade was a 43.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Corporate Gp Vi Ltd. Qiming also recently made the following trade(s):

• On Wednesday, October 21st, Corporate Gp Vi Ltd. Qiming sold 208,815 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.31, for a total value 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 value of $3,960,491.56.
• On Monday, October 19th, Corporate Gp Vi Ltd. Qiming sold 75,508 shares of Alamar Biosciences stock. The stock was sold at an average price of $26.34, for a total value of $1,988,880.72.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The stock was sold at an average price of $27.02, for a total value of $3,674.72.
• On Thursday, October 15th, Corporate Gp Vi Ltd. Qiming sold 173,537 shares of Alamar Biosciences stock. The shares were sold at an average price of $27.73, for a total value of $4,812,181.01.

Alamar Biosciences Stock Performance

NASDAQ:ALMR traded up $0.97 during mid-day trading on Friday, hitting $30.69. The company had a trading volume of 748,124 shares, compared to its average volume of 772,442. Alamar Biosciences, Inc. has a fifty-two week low of $18.84 and a fifty-two week high of $39.61. The company has a fifty day moving average price of $30.74. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.13 billion and a price-to-earnings ratio of -15.66.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $29.43 million for the quarter. Equities analysts forecast that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALMR. 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 report on Tuesday, August 11th. TD Cowen reissued a "buy" rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Alamar Biosciences from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.80.

Hedge Funds Weigh In On Alamar Biosciences

Several institutional investors have recently modified their holdings of the business. Braidwell LP acquired a new position in shares of Alamar Biosciences in the 2nd quarter valued at approximately $29,365,000. Wellington Management Group LLP bought a new stake in Alamar Biosciences during the 2nd quarter worth approximately $12,407,000. State Street Corp acquired a new stake in Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC acquired a new stake in Alamar Biosciences during the 2nd quarter worth approximately $283,000.

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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