Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells $6,329,182.65 in Stock

Key Points

• Major shareholder Corporate Gp VI Ltd. Qiming sold 208,815 Alamar Biosciences shares for approximately $6.33 million at an average price of $30.31, reducing its ownership by 54.45% to 174,677 shares.
• The shareholder also made five additional sales from October 15–22, bringing the disclosed recent selling to roughly $25.0 million.
• Alamar shares traded near $30.69, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $31.80; the company also exceeded quarterly EPS expectations.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 208,815 shares of the company's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $30.31, for a total transaction of $6,329,182.65. Following the completion of the transaction, the insider owned 174,677 shares in the company, valued at approximately $5,294,459.87. This represents a 54.45% decrease in their ownership of the stock. 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 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 Tuesday, October 20th, Corporate Gp Vi Ltd. Qiming sold 142,004 shares of Alamar Biosciences stock. The shares were 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 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

Alamar Biosciences stock traded up $0.97 during midday trading on Friday, reaching $30.69. 748,124 shares of the stock traded hands, compared to its average volume of 772,442. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23. The business has a 50-day simple moving average of $30.74. Alamar Biosciences, Inc. has a 12-month low of $18.84 and a 12-month high of $39.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, sell-side analysts forecast that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp purchased a new stake in shares of Alamar Biosciences in the 2nd quarter valued at approximately $3,930,000. Squarepoint Ops LLC purchased a new stake in shares of Alamar Biosciences during the 2nd quarter worth $283,000. Braidwell LP acquired a new position in shares of Alamar Biosciences during the second quarter worth $29,365,000. Finally, Wellington Management Group LLP acquired a new position in shares of Alamar Biosciences during the second quarter worth $12,407,000.

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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