Alpine Immune Sciences, Inc. (NASDAQ:ALPN) Sees Large Drop in Short Interest

Alpine Immune Sciences, Inc. (NASDAQ:ALPN) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,740,000 shares, a drop of 10.2% from the March 31st total of 5,280,000 shares. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is currently 2.1 days.

Alpine Immune Sciences Trading Up 0.2 %

Shares of ALPN stock opened at $64.70 on Tuesday. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -101.09 and a beta of 1.14. The business’s 50-day moving average price is $44.23 and its 200-day moving average price is $27.23. Alpine Immune Sciences has a 12 month low of $6.71 and a 12 month high of $64.70.

Alpine Immune Sciences (NASDAQ:ALPN) last posted its earnings results on Monday, March 18th. The biotechnology company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.32) by $0.47. Alpine Immune Sciences had a negative net margin of 54.66% and a negative return on equity of 15.54%. The business had revenue of $30.85 million for the quarter, compared to the consensus estimate of $6.90 million. On average, sell-side analysts predict that Alpine Immune Sciences will post -1.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALPN shares. Oppenheimer reiterated an “outperform” rating and set a $44.00 price objective (up from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Wolfe Research reaffirmed a “peer perform” rating on shares of Alpine Immune Sciences in a report on Thursday, April 11th. TD Cowen reiterated a “hold” rating on shares of Alpine Immune Sciences in a research note on Tuesday, April 16th. Wedbush downgraded Alpine Immune Sciences from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 11th. Finally, Guggenheim assumed coverage on Alpine Immune Sciences in a research note on Tuesday, April 9th. They issued a “buy” rating and a $55.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.33.

Institutional Trading of Alpine Immune Sciences

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Alpine Immune Sciences during the 3rd quarter worth about $114,000. Bank of New York Mellon Corp lifted its stake in shares of Alpine Immune Sciences by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 92,723 shares of the biotechnology company’s stock worth $1,062,000 after acquiring an additional 1,216 shares during the period. Barclays PLC lifted its stake in shares of Alpine Immune Sciences by 44.3% in the third quarter. Barclays PLC now owns 9,126 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 2,801 shares during the period. New York State Common Retirement Fund increased its position in Alpine Immune Sciences by 75.8% during the 3rd quarter. New York State Common Retirement Fund now owns 9,634 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 4,155 shares during the period. Finally, Swiss National Bank acquired a new stake in Alpine Immune Sciences during the 3rd quarter valued at approximately $483,000. Institutional investors own 75.17% of the company’s stock.

About Alpine Immune Sciences

Alpine Immune Sciences, Inc operates as a clinical-stage biopharmaceutical company. It focuses on the discovery and development of immunotherapies through protein engineering technologies for treating autoimmune and inflammatory diseases. The company's product pipeline includes Povetacicept, a dual B cell cytokine antagonist, which is in Phase 2 clinical trial for the treatment of multiple autoimmune and inflammatory diseases; and Acazicolcept, a dual inhibitor of the CD28 and ICOS T cell costimulatory pathways that is in preclinical trial for the treatment of systemic lupus erythematosus.