Alpine Immune Sciences, Inc. (NASDAQ:ALPN) Short Interest Down 10.2% in April

Alpine Immune Sciences, Inc. (NASDAQ:ALPN) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 4,740,000 shares, a decline 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 days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALPN. SG Americas Securities LLC purchased a new position in shares of Alpine Immune Sciences during the third quarter valued at approximately $114,000. Bank of New York Mellon Corp lifted its holdings in Alpine Immune Sciences by 1.3% during 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 holdings in Alpine Immune Sciences by 44.3% during 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 lifted its holdings in Alpine Immune Sciences by 75.8% during the third quarter. New York State Common Retirement Fund now owns 9,634 shares of the biotechnology company’s stock worth $110,000 after acquiring an additional 4,155 shares during the period. Finally, Swiss National Bank bought a new stake in Alpine Immune Sciences during the third quarter worth $483,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. SVB Leerink downgraded Alpine Immune Sciences from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $42.00 to $65.00 in a report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $44.00 target price (up from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price (up from $47.00) on shares of Alpine Immune Sciences in a report on Thursday, April 11th. Guggenheim assumed coverage on Alpine Immune Sciences in a report on Tuesday, April 9th. They issued a “buy” rating and a $55.00 target price for the company. Finally, Leerink Partnrs downgraded Alpine Immune Sciences from an “outperform” rating to a “market perform” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.33.

Alpine Immune Sciences Stock Down 0.1 %

Shares of NASDAQ:ALPN opened at $64.56 on Monday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -100.88 and a beta of 1.14. Alpine Immune Sciences has a 12-month low of $6.71 and a 12-month high of $64.70. The business’s 50 day moving average is $43.56 and its 200 day moving average is $26.85.

Alpine Immune Sciences (NASDAQ:ALPN) last announced its earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.47. The company had revenue of $30.85 million for the quarter, compared to analysts’ expectations of $6.90 million. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. As a group, equities research analysts expect that Alpine Immune Sciences will post -1.74 earnings per share for the current year.

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.