Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 142,004 Shares of Stock

Key Points

• Major shareholder Corporate Gp Vi Ltd. Qiming sold 142,004 Alamar Biosciences shares at an average price of $27.89, generating approximately $3.96 million. The sale reduced its position by 44.33% to 178,326 shares.
• Qiming also sold more than 249,000 additional shares in transactions from October 15–19, indicating substantial recent insider selling.
• Alamar shares rose 11.7% to $31.45, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and a $31.80 average price target.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 142,004 shares of the company's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $27.89, for a total transaction of $3,960,491.56. Following the completion of the transaction, the insider owned 178,326 shares of the company's stock, valued at approximately $4,973,512.14. This trade represents a 44.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $1,988,880.72.
• On Friday, October 16th, Corporate Gp Vi Ltd. Qiming sold 136 shares of Alamar Biosciences stock. The shares were sold at an average price of $27.02, for a total transaction 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 transaction of $4,812,181.01.

Alamar Biosciences Stock Up 11.7%

Alamar Biosciences stock traded up $3.29 during trading hours on Wednesday, hitting $31.45. 1,141,204 shares of the company traded hands, compared to its average volume of 725,622. Alamar Biosciences, Inc. has a 1-year low of $18.84 and a 1-year high of $39.61. The firm's 50-day moving average price is $30.86. 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 analysts' consensus estimates of ($0.36) by $0.14. The company had revenue of $29.43 million during the quarter. On average, analysts expect that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamar Biosciences

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in Alamar Biosciences in the 2nd quarter worth about $283,000. State Street Corp acquired a new stake in Alamar Biosciences during the 2nd quarter worth about $3,930,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences during the second quarter valued at about $12,407,000. Finally, Braidwell LP purchased a new stake in Alamar Biosciences during the second quarter valued at about $29,365,000.

Analyst Upgrades and Downgrades

ALMR has been the subject of a number of research reports. Weiss Ratings raised Alamar Biosciences from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. boosted their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Stifel Nicolaus boosted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, TD Cowen restated a "buy" rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.80.

About Alamar Biosciences

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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