Alamar Biosciences, Inc.'s Lock-Up Period To End on October 14th (NASDAQ:ALMR)

Key Points

• Alamar Biosciences’ lock-up period expires October 14, allowing insiders and major shareholders to sell shares. The company issued 11.25 million shares at $17 each in its April public offering, valued at $191.25 million.
• Analyst sentiment is mixed: four analysts rate ALMR a Buy, two rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $31.80.
• Alamar reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, beating the expected loss of $0.36. Shares have traded between $18.84 and $39.61 over the past year, while several institutional investors recently initiated positions.

Alamar Biosciences' (NASDAQ:ALMR - Get Free Report) lock-up period is set to expire on Wednesday, October 14th. Alamar Biosciences had issued 11,250,000 shares in its public offering on April 17th. The total size of the offering was $191,250,000 based on an initial share price of $17.00. After the expiration of the company's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALMR. JPMorgan Chase & Co. upped their target price on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Stifel Nicolaus boosted their price objective on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings started coverage on shares of Alamar Biosciences in a research note on Tuesday, August 11th. They set a "sell (d+)" rating on the stock. Finally, TD Cowen restated a "buy" rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Four 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.80.

Alamar Biosciences Stock Down 15.4%

Shares of NASDAQ:ALMR opened at $32.26 on Wednesday. The stock has a market capitalization of $2.24 billion and a P/E ratio of -16.46. The firm has a fifty day simple moving average of $31.28. Alamar Biosciences has a 52 week low of $18.84 and a 52 week 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.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. Sell-side analysts expect that Alamar Biosciences will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamar Biosciences

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

Alamar Biosciences Company Profile

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.

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