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

Alamar Biosciences, Inc. (NASDAQ:ALMR – Get Free Report) shares fell 12.7% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $29.56 and last traded at $29.72. Approximately 214,491 shares changed hands during mid-day 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 company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $32.77, for a total transaction of $3,304,428.49. Following the completion of the sale, the insider owned 164,191 shares in the company, valued at $5,380,539.07. This represents a 38.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corporate Gp Vi Ltd. Qiming sold 84,894 shares of the 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 sale, the insider directly owned 165,953 shares in the company, valued at $5,209,264.67. This trade represents a 33.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Alamar Biosciences news, major shareholder Corporate Gp Vi Ltd. Qiming sold 132,524 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $30.52, for a total transaction of $4,044,632.48. Following the transaction, the insider directly owned 167,438 shares in the company, valued at approximately $5,110,207.76. This represents a 44.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings lowered shares of Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Finally, Stifel Nicolaus lifted their target price on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Four investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.80.

Get Our Latest Stock Analysis on Alamar Biosciences

Alamar Biosciences Stock Performance

The firm has a 50-day moving average price of $30.73. The company has a quick ratio of 10.23, a current ratio of 11.85 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.06 billion and a PE ratio of -15.16.

Alamar Biosciences (NASDAQ:ALMR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $29.43 million for the quarter. Analysts expect that Alamar Biosciences, Inc. will post -1.22 earnings per share for the current year.

Institutional Investors Weigh In On Alamar Biosciences

Several hedge funds have recently made changes to their positions in ALMR. Sumitomo Mitsui Trust Group Inc. raised its holdings in Alamar Biosciences by 18.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock worth $2,280,000 after purchasing an additional 10,461 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alamar Biosciences during the 3rd quarter valued at $196,000. State Street Corp purchased a new stake in shares of Alamar Biosciences in the 2nd quarter worth about $3,930,000. Squarepoint Ops LLC purchased a new stake in shares of Alamar Biosciences in the 2nd quarter worth about $283,000. Finally, Braidwell LP bought a new position in shares of Alamar Biosciences in the 2nd quarter worth about $29,365,000.

Alamar Biosciences Company Profile

(Get Free Report)

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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