Alamar Biosciences Surges 34% on Q2 Beat, Raised Guidance, and Alzheimer's Partnership Expansion
ALMR sits 93% above its 52-week low of $18.845 on elevated volume (3.1× avg).
Summary
Alamar Biosciences shares jumped 33.78% to $37.20 after reporting Q2 results that beat across the board. Revenue hit $29.4M, up 82% YoY and well above the $25.9M consensus, while the loss per share of $0.22 trounced the expected $0.33 loss. Full-year guidance of $116M–$120M also topped the Street's $113.3M. The company is expanding its Alzheimer's disease data partnership with Gates Ventures, adding 86,000 samples to a dataset that will exceed 140,000 by 2027. This follows the initial partnership announcement yesterday, but today's move is driven by the earnings beat and guidance raise. JPMorgan raised its target to $35, though the stock has already blown past that. The RSI at 73 signals overbought conditions, but the fundamental story is strengthening with consumables revenue growing nearly 150%.
At the time of this announcement, ALMR was trading at $36.44 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $18.85 to $37.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.