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

Alamar Biosciences’ (NASDAQ:ALMR) lock-up period is set to expire on Wednesday, October 14th. Alamar Biosciences had issued 11,250,000 shares in its IPO 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, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

ALMR has been the topic of a number of recent analyst reports. TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Weiss Ratings began coverage on Alamar Biosciences in a report on Tuesday, August 11th. They issued a “sell (d+)” rating on the stock. Stifel Nicolaus raised their price target on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.80.

Alamar Biosciences Price Performance

Shares of Alamar Biosciences stock opened at $25.91 on Friday. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.80 billion and a PE ratio of -13.22. The business’s 50-day simple moving average is $31.36. Alamar Biosciences has a 1 year low of $18.84 and a 1 year high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. On average, equities analysts expect that Alamar Biosciences will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On Alamar Biosciences

Large investors have recently added to or reduced their stakes in the company. Braidwell LP purchased a new position in shares of Alamar Biosciences in the 2nd quarter worth approximately $29,365,000. Wellington Management Group LLP purchased a new stake in Alamar Biosciences during the second quarter valued at approximately $12,407,000. State Street Corp acquired a new stake in Alamar Biosciences in the second quarter valued at approximately $3,930,000. Finally, Squarepoint Ops LLC acquired a new stake in Alamar Biosciences in the second quarter valued at approximately $283,000.

About Alamar Biosciences

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.