Alamar Biosciences (NASDAQ:ALMR) Stock: Insider Corporate Gp Vi Ltd. Qiming Sells 100,837 Shares

Key Points

• Major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 ALMR shares at an average price of $32.77, generating about $3.3 million. The transaction reduced its direct ownership by 38.05% to 164,191 shares.
• The sale followed a series of additional disposals in October, with the shareholder selling more than 1.2 million shares across the reported transactions.
• Alamar Biosciences traded at $34.04, with a $2.36 billion market capitalization. Analysts’ consensus rating was “Hold,” with an average price target of $31.80, while the company recently beat quarterly EPS expectations and reported $29.43 million in revenue.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $32.77, for a total value of $3,304,428.49. Following the completion of the transaction, the insider directly owned 164,191 shares in the company, valued at approximately $5,380,539.07. This trade represents a 38.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 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 Tuesday, October 27th, Corporate Gp Vi Ltd. Qiming sold 84,894 shares of Alamar Biosciences stock. The shares were 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 value 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 value of $4,525,301.06.
• On Thursday, October 22nd, Corporate Gp Vi Ltd. Qiming sold 133,811 shares of Alamar Biosciences stock. The shares were 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 stock was 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 shares were 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 value of $3,674.72.
• On Thursday, October 15th, Corporate Gp Vi Ltd. Qiming sold 173,537 shares of Alamar Biosciences stock. The stock was sold at an average price of $27.73, for a total value of $4,812,181.01.

Alamar Biosciences Stock Performance

ALMR traded down $0.26 during mid-day trading on Thursday, reaching $34.04. 496,143 shares of the stock were exchanged, compared to its average volume of 416,412. The business has a 50 day moving average of $30.76. The stock has a market capitalization of $2.36 billion and a PE ratio of -17.37. 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 1 year low of $18.84 and a 1 year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last issued its quarterly earnings data 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 during the quarter. Sell-side analysts expect that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Institutional Trading of Alamar Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Alamar Biosciences by 18.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company's stock valued at $2,280,000 after acquiring an additional 10,461 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Alamar Biosciences during the third quarter valued at $196,000. State Street Corp bought a new position in Alamar Biosciences in the 2nd quarter worth about $3,930,000. Squarepoint Ops LLC bought a new stake in shares of Alamar Biosciences during the second quarter valued at approximately $283,000. Finally, Braidwell LP bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth $29,365,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALMR. JPMorgan Chase & Co. lifted their target price on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. 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. Stifel Nicolaus increased their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, TD Cowen restated a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.