Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Rated “Hold” by Wall Street Brokerages

Alamar Biosciences, Inc. (NASDAQ:ALMR) has been given a consensus rating of “Hold” by the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.00.

ALMR has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of Alamar Biosciences from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings lowered shares of Alamar Biosciences from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. raised their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus raised 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.

Alamar Biosciences Stock Up 4.2%

NASDAQ:ALMR opened at $28.05 on Tuesday. The stock has a 50 day moving average price of $30.14. The company has a market cap of $1.95 billion and a P/E ratio of -14.31. Alamar Biosciences has a 1-year low of $18.84 and a 1-year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. Alamar Biosciences had a negative net margin of 48.22% and a negative return on equity of 78.71%. The firm had revenue of $33.55 million for the quarter. On average, research analysts anticipate that Alamar Biosciences will post -1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Corporate Gp Vi Ltd. Qiming sold 111,313 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $29.89, for a total transaction of $3,327,145.57. Following the completion of the sale, the insider directly owned 158,967 shares in the company, valued at $4,751,523.63. This represents a 41.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 1,498,949 shares of company stock worth $44,562,077.

Institutional Trading of Alamar Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Alamar Biosciences in the third quarter worth $196,000. Squarepoint Ops LLC purchased a new stake in shares of Alamar Biosciences during the second quarter worth about $283,000. Sumitomo Mitsui Trust Group Inc. raised its position in Alamar Biosciences by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,913 shares of the company’s stock valued at $2,280,000 after purchasing an additional 10,461 shares during the last quarter. State Street Corp bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth approximately $3,930,000. Finally, Wellington Management Group LLP bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth approximately $12,407,000.

Alamar Biosciences Company Profile

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.