Alpine Immune Sciences (NASDAQ:ALPN) Shares Down 4.2%

Alpine Immune Sciences, Inc. (NASDAQ:ALPN) fell 4.2% during trading on Tuesday . The company traded as low as $12.27 and last traded at $12.31. 16,561 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 148,825 shares. The stock had previously closed at $12.85.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALPN. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Alpine Immune Sciences in a research note on Thursday, August 31st. Wedbush reiterated an “outperform” rating and set a $19.00 price objective on shares of Alpine Immune Sciences in a research note on Friday, September 1st. Finally, Oppenheimer increased their price objective on Alpine Immune Sciences from $14.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.00.

Alpine Immune Sciences Stock Down 4.1 %

The firm has a fifty day moving average price of $12.43 and a 200 day moving average price of $10.03. The company has a market cap of $606.17 million, a P/E ratio of -9.42 and a beta of 1.27.

Alpine Immune Sciences (NASDAQ:ALPN) last announced its earnings results on Monday, August 14th. The biotechnology company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.11. The company had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.08 million. Alpine Immune Sciences had a negative return on equity of 33.44% and a negative net margin of 201.07%. On average, sell-side analysts anticipate that Alpine Immune Sciences, Inc. will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Alpine Immune Sciences

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Alpine Immune Sciences by 99.1% in the second quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 1,315 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Alpine Immune Sciences in the third quarter valued at about $35,000. Barclays PLC boosted its holdings in Alpine Immune Sciences by 818.4% in the fourth quarter. Barclays PLC now owns 6,080 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 5,418 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in Alpine Immune Sciences by 88.7% in the third quarter. BNP Paribas Arbitrage SNC now owns 6,572 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 3,090 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in Alpine Immune Sciences by 26.8% in the second quarter. American International Group Inc. now owns 7,310 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 1,543 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

About Alpine Immune Sciences

Alpine Immune Sciences, Inc, a clinical-stage company, focuses on immune therapeutics. The company has strategic collaborations immunotherapies via protein engineering technologies with biopharmaceutical companies and has a pipeline of clinical and preclinical candidates in development. Its pipeline includes Povetacicept (ALPN-303), which is in a phase 1b, open-label study of povetacicept in autoimmune cytopenias, including immune thrombocytopenia, warm autoimmune hemolytic anemia, and cold agglutinin disease; and in phase 1b/2a, open-label study of povetacicept in autoimmune glomerulonephritis, including IgA nephropathy, lupus nephritis, and primary membranous nephropathy.