Insider Selling: Alamar Biosciences (NASDAQ:ALMR) Major Shareholder Sells 75,508 Shares of Company Stock

Key Points

• Major shareholder Corporate Gp Vi Ltd. Qiming sold 75,508 Alamar Biosciences shares at an average price of $26.34, generating approximately $1.99 million. The sale reduced its ownership by 29.46% to 180,808 shares.
• Qiming also sold more than 315,000 additional shares in related transactions from October 15–20, bringing its recent selling activity to over 390,000 shares.
• Alamar shares rose 11.7% to $31.45, while analysts maintained a “Moderate Buy” consensus with an average price target of $31.80. The company recently exceeded quarterly EPS expectations, reporting a loss of $0.22 per share versus the projected $0.36 loss.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) major shareholder Corporate Gp Vi Ltd. Qiming sold 75,508 shares of the company's stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $26.34, for a total transaction of $1,988,880.72. Following the transaction, the insider owned 180,808 shares of the company's stock, valued at approximately $4,762,482.72. This represents a 29.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $3,960,491.56.
• 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%

Shares of NASDAQ ALMR traded up $3.29 during midday trading on Wednesday, reaching $31.45. 1,141,204 shares of the company were exchanged, compared to its average volume of 725,622. The company's 50-day moving average price is $30.86. The stock has a market capitalization of $2.18 billion and a PE ratio of -16.05. Alamar Biosciences, Inc. has a one year low of $18.84 and a one year high of $39.61. 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 announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $29.43 million for the quarter. On average, equities research analysts anticipate that Alamar Biosciences, Inc. will post -1.22 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Alamar Biosciences

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