Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Corporate Gp Vi Ltd. Qiming Sells 43,930 Shares of Company Stock

Key Points

• Major shareholder Qiming sold 43,930 Alamar Biosciences shares at an average $29.84, for about $1.31 million. The sale reduced its position by 21.45%, leaving 160,913 shares; it followed numerous other reported sales in October.
• Alamar reported a quarterly loss of $0.19 per share, beating analysts’ expected loss of $0.22, and revenue of $33.55 million.
• Analyst sentiment was mixed: MarketBeat listed a consensus “Hold” rating and an average price target of $31.80.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 43,930 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $29.84, for a total transaction of $1,310,871.20. Following the completion of the sale, the insider owned 160,913 shares of the company's stock, valued at approximately $4,801,643.92. The trade was a 21.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 30th, Corporate Gp Vi Ltd. Qiming sold 143,706 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.38, for a total value of $4,365,788.28.
• On Wednesday, October 28th, Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock. The stock was sold at an average price of $32.77, for a total transaction of $3,304,428.49.
• On Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The stock was sold at an average price of $31.39, for a total transaction of $2,664,822.66.
• On Monday, October 26th, Corporate Gp Vi Ltd. Qiming sold 132,524 shares of Alamar Biosciences stock. The shares were sold at an average price of $30.52, for a total transaction of $4,044,632.48.
• On Friday, October 23rd, Corporate Gp Vi Ltd. Qiming sold 147,934 shares of Alamar Biosciences stock. The stock was sold at an average price of $30.59, for a total transaction of $4,525,301.06.
• On Thursday, October 22nd, Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock. The stock was sold at an average price of $29.33, for a total value of $3,924,676.63.
• 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 transaction 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.

Alamar Biosciences Stock Performance

NASDAQ ALMR traded up $1.28 during trading on Tuesday, hitting $30.22. The stock had a trading volume of 673,925 shares, compared to its average volume of 423,943. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23. Alamar Biosciences, Inc. has a 12 month low of $18.84 and a 12 month high of $39.61. The firm has a market cap of $2.10 billion and a P/E ratio of -15.42. The company has a 50-day moving average price of $30.54.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $33.55 million for the quarter. As a group, equities analysts anticipate that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALMR. TD Cowen reissued a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Stifel Nicolaus upped their target price on Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 23rd. 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. Based on data from MarketBeat, Alamar Biosciences currently has a consensus rating of "Hold" and an average price target of $31.80.

Institutional Trading of Alamar Biosciences

Institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its position in Alamar Biosciences by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company's stock valued at $2,280,000 after purchasing an additional 10,461 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alamar Biosciences during the 3rd quarter valued at $196,000. State Street Corp purchased a new stake in shares of Alamar Biosciences in the 2nd quarter worth about $3,930,000. Squarepoint Ops LLC bought a new position in shares of Alamar Biosciences in the 2nd quarter worth about $283,000. Finally, Braidwell LP bought a new stake in Alamar Biosciences during the second quarter worth about $29,365,000.

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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