Alpine Immune Sciences (NASDAQ:ALPN) Sees Large Volume Increase

Shares of Alpine Immune Sciences, Inc. (NASDAQ:ALPN - Get Free Report) saw an uptick in trading volume on Friday . 679,878 shares were traded during trading, a decline of 64% from the previous session's volume of 1,879,012 shares.The stock last traded at $64.44 and had previously closed at $64.43.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALPN. Oppenheimer reissued an "outperform" rating and set a $44.00 target price (up previously from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Wedbush downgraded shares of Alpine Immune Sciences from an "outperform" rating to a "neutral" rating in a research note on Thursday, April 11th. TD Cowen reaffirmed a "hold" rating on shares of Alpine Immune Sciences in a research note on Tuesday. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price target (up from $47.00) on shares of Alpine Immune Sciences in a research note on Thursday, April 11th. Finally, Leerink Partnrs downgraded shares of Alpine Immune Sciences from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $50.33.

Alpine Immune Sciences Price Performance

The firm has a market capitalization of $4.23 billion, a PE ratio of -100.86 and a beta of 1.14. The firm's fifty day moving average is $40.09 and its two-hundred day moving average is $24.80.

Alpine Immune Sciences (NASDAQ:ALPN - Get Free Report) last released its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share 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 analysts' expectations of $6.90 million. As a group, equities research analysts predict that Alpine Immune Sciences, Inc. will post -1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALPN. American International Group Inc. grew its position in shares of Alpine Immune Sciences by 2.2% during the 4th quarter. American International Group Inc. now owns 16,185 shares of the biotechnology company's stock valued at $308,000 after acquiring an additional 343 shares during the period. Bank of New York Mellon Corp grew its position in shares of Alpine Immune Sciences by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,723 shares of the biotechnology company's stock valued at $1,062,000 after acquiring an additional 1,216 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Alpine Immune Sciences by 745.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,488 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 1,312 shares during the period. Royal Bank of Canada grew its position in shares of Alpine Immune Sciences by 99.1% during the 2nd 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of Alpine Immune Sciences by 23.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,947 shares of the biotechnology company's stock valued at $80,000 after acquiring an additional 1,697 shares during the period. 75.17% of the stock is currently owned by hedge funds and other institutional investors.

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.