Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $2,664,822.66 in Stock

Key Points

• Major shareholder Corporate Gp Vi Ltd. Qiming sold 84,894 ALMR shares for approximately $2.66 million at an average price of $31.39, reducing its position by 33.84% to 165,953 shares.
• The sale was part of a broader series of transactions in October, during which Qiming sold millions of dollars’ worth of Alamar Biosciences stock.
• ALMR recently traded at $34.04, down 0.8%. Analysts’ average rating is “Hold,” with an average price target of $31.80, while the company reported better-than-expected quarterly EPS but remains forecast to post a full-year loss.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 84,894 shares of the firm's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $31.39, for a total transaction of $2,664,822.66. Following the completion of the transaction, the insider owned 165,953 shares in the company, valued at $5,209,264.67. The trade was a 33.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 Wednesday, October 28th, Corporate Gp Vi Ltd. Qiming sold 100,837 shares of Alamar Biosciences stock. The shares were sold at an average price of $32.77, for a total value of $3,304,428.49.
• 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 shares were 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 stock was sold at an average price of $29.33, for a total transaction 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 transaction 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 transaction 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 Down 0.8%

NASDAQ ALMR traded down $0.26 on Thursday, reaching $34.04. 496,143 shares of the stock traded hands, compared to its average volume of 416,412. Alamar Biosciences, Inc. has a 12 month low of $18.84 and a 12 month high of $39.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. The stock's fifty day moving average price is $30.76. The company has a market capitalization of $2.36 billion and a P/E ratio of -17.37.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last released its earnings results 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 for the quarter. As a group, equities research analysts forecast that Alamar Biosciences, Inc. will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Alamar Biosciences

Institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 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 acquiring an additional 10,461 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Alamar Biosciences during the 3rd quarter worth approximately $196,000. State Street Corp bought a new stake in Alamar Biosciences in the second quarter valued at $3,930,000. Squarepoint Ops LLC bought a new position in shares of Alamar Biosciences during the second quarter valued at $283,000. Finally, Braidwell LP bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth about $29,365,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALMR shares. JPMorgan Chase & Co. lifted their price objective on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 23rd. Stifel Nicolaus increased their target price on shares of 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 reaffirmed a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alamar Biosciences currently has an average rating of "Hold" and an average 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.

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