Alamar Biosciences (NASDAQ:ALMR) Stock Price Down 12.7% on Insider Selling

Key Points

• Alamar Biosciences shares fell 12.7% to $29.72 after major shareholder Corporate Gp Vi Ltd. Qiming sold more than 318,000 shares across three transactions, substantially reducing its position.
• Analyst sentiment is mixed: four analysts rate the stock Buy, two Hold, and one Sell, resulting in a consensus rating of Hold and an average price target of $31.80.
• The company reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, beating the consensus loss estimate of $0.36; analysts expect a full-year loss of approximately $1.22 per share.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) shares were down 12.7% during trading on Friday following insider selling activity. The company traded as low as $29.56 and last traded at $29.72. 214,491 shares changed hands during trading, a decline of 48% from the average daily volume of 414,642 shares. The stock had previously closed at $34.04.

Specifically, major shareholder Corporate Gp Vi Ltd. Qiming sold 100,837 shares of the business's stock in a transaction on Wednesday, October 28th. The stock was 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. The trade was a 38.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Corporate Gp Vi Ltd. Qiming sold 84,894 shares of the firm's stock in a transaction 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 sale, the insider directly owned 165,953 shares of the company's stock, valued at approximately $5,209,264.67. The trade was a 33.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, major shareholder Corporate Gp Vi Ltd. Qiming sold 132,524 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $30.52, for a total value of $4,044,632.48. Following the completion of the transaction, the insider owned 167,438 shares of the company's stock, valued at approximately $5,110,207.76. This represents a 44.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Analyst Ratings Changes

ALMR has been the subject of a number of research analyst reports. Weiss Ratings lowered Alamar Biosciences from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 23rd. JPMorgan Chase & Co. lifted 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. Stifel Nicolaus raised their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Finally, TD Cowen reiterated 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.80.

Alamar Biosciences Trading Down 12.7%

The company has a market capitalization of $2.06 billion and a P/E ratio of -15.16. 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 company has a 50-day moving average price of $30.73.

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 company had revenue of $29.43 million for the quarter. On average, research analysts anticipate that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamar Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in Alamar Biosciences by 18.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company's stock valued at $2,280,000 after buying an additional 10,461 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Alamar Biosciences in the 3rd quarter valued at about $196,000. 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 position in shares of Alamar Biosciences during the 2nd quarter worth approximately $283,000. Finally, Braidwell LP purchased a new position in Alamar Biosciences in the second quarter valued at $29,365,000.

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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