Alamar Biosciences Inc. (NASDAQ:ALMR) shares are trading higher on Tuesday as the company is expanding its global partnership with the Alzheimer’s Disease Data Initiative and Gates Ventures.
The proteomics company is engaged in protein detection and analysis.
• Alamar Biosciences stock is approaching key resistance levels. Why are ALMR shares at highs?
ALMR Expands Alzheimer’s Data Partnership with Gates Ventures
The expanded collaboration will apply multiplex protein profiling across 86,000 additional samples, allowing researchers to advance from single biomarkers to a precision-medicine approach in understanding diseases.
The strategic move aims to enhance Alamar’s capabilities in protein detection and analysis, which is crucial for early disease detection.
The combined dataset, when completed in 2027, is expected to encompass more than 140,000 samples profiled across multiple geographies and cohorts, integrated with clinical and longitudinal outcome data.
Alamar Biosciences reported second quarter loss of 22 cents, beating the consensus loss of 33 cents.
The proteomics company reported sales of $29.427 million, up 82% year over year, surpassing the consensus of $25.94 million.
The company forecasts fiscal 2026 sales of $116 million-$120 million compared to the consensus of $113.259 million.
“We delivered a strong second quarter with consumable revenue growing nearly 150% year-over-year,” said Yuling Luo, founder, CEO and chair of Alamar Biosciences.
“With the recent launches of eMTBR-tau and the Immune 340 Panel strengthening our content menu and extending into new disease areas, we believe we are well-positioned to sustain momentum into the coming quarters.”
ALMR Technical Outlook: Momentum and Key Chart Levels
Currently, Alamar Biosciences is experiencing a strong upward trend, with a 12-month performance of over 45%.
The stock is trading significantly above its 20-day and 50-day simple moving averages (SMAs), at 21.4% and 29.4%, respectively. The 20-day SMA has crossed above the 50-day SMA, a bullish signal that suggests continued upward pressure.
The primary momentum indicator, the Relative Strength Index (RSI), is currently at 72.94, indicating that the stock is in overbought territory, which could suggest a potential pullback or consolidation in the near term.
Key Resistance: $32.90 — This level is significant as it represents the current trading price and a potential pivot point for future movements. Key Support: $26.30 — This level is crucial as it aligns with the 20-day SMA, providing a potential floor for the stock.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $32. Recent analyst moves include:
- JPMorgan: Overweight (Raises target to $35 on Aug. 11)
- Leerink Partners: Initiated with Outperform (Target $35 on May 12)
- TD Cowen: Initiated with Buy (Target $30 on May 12)
ALMR Stock Price Activity: Alamar Biosciences shares were up 33.78% at $37.20 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo: motorolka/Shutterstock
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