Alpine Immune Sciences Inc (NASDAQ:ALPN) Sees Significant Decline in Short Interest

Alpine Immune Sciences Inc (NASDAQ:ALPN) was the recipient of a large drop in short interest in November. As of November 29th, there was short interest totalling 12,700 shares, a drop of 27.4% from the November 14th total of 17,500 shares. Based on an average trading volume of 24,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

NASDAQ:ALPN opened at $3.68 on Friday. The business’s 50-day moving average price is $2.97 and its two-hundred day moving average price is $3.87. Alpine Immune Sciences has a twelve month low of $2.25 and a twelve month high of $8.24. The stock has a market cap of $67.10 million, a P/E ratio of -1.40 and a beta of 1.78. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.47.

Alpine Immune Sciences (NASDAQ:ALPN) last released its quarterly earnings results on Wednesday, November 13th. The biotechnology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.06. The business had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $0.38 million. On average, equities research analysts expect that Alpine Immune Sciences will post -2.54 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alpine Immune Sciences in the 2nd quarter valued at about $90,000. Renaissance Technologies LLC raised its holdings in shares of Alpine Immune Sciences by 10.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,261 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 10,400 shares in the last quarter. Hikari Power Ltd increased its position in shares of Alpine Immune Sciences by 52.9% during the 3rd quarter. Hikari Power Ltd now owns 185,587 shares of the biotechnology company’s stock valued at $735,000 after purchasing an additional 64,224 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Alpine Immune Sciences by 67.7% during the 2nd quarter. Vanguard Group Inc. now owns 202,582 shares of the biotechnology company’s stock valued at $853,000 after purchasing an additional 81,800 shares during the last quarter. 46.80% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the company. Zacks Investment Research cut Alpine Immune Sciences from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies lowered their price target on Alpine Immune Sciences to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Alpine Immune Sciences has a consensus rating of “Buy” and a consensus target price of $9.31.

About Alpine Immune Sciences

Alpine Immune Sciences, Inc focuses on the discovery and development of protein-based immunotherapies for the treatment of cancer, autoimmune/inflammatory disorders, and other diseases. Its lead programs include ALPN-101, an inducible T cell costimulator (ICOS)/cluster of differentiation 28 (CD28) antagonist program for the treatment of autoimmune and inflammatory diseases; and ALPN-202, a programmed cell death protein ligand 1 (PD-L1)/cytotoxic T-lymphocyte associated protein 4 (CTLA-4) antagonist with PD-L1 dependent CD28 costimulation for the treatment of cancer.

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