Alpine Immune Sciences (NASDAQ:ALPN) Shares Down 5.6%

Alpine Immune Sciences, Inc. (NASDAQ:ALPNGet Free Report)’s stock price dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $36.80 and last traded at $37.02. Approximately 583,722 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,126,938 shares. The stock had previously closed at $39.21.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALPN. Wedbush reaffirmed an “outperform” rating and set a $47.00 target price on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Wolfe Research assumed coverage on Alpine Immune Sciences in a report on Thursday, February 15th. They set an “outperform” rating and a $44.00 price target for the company. Oppenheimer reiterated an “outperform” rating and set a $44.00 price target (up from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. HC Wainwright increased their price target on Alpine Immune Sciences from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Morgan Stanley increased their target price on Alpine Immune Sciences from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $38.86.

Read Our Latest Stock Report on ALPN

Alpine Immune Sciences Price Performance

The stock has a 50 day moving average of $33.18 and a two-hundred day moving average of $21.24. The stock has a market capitalization of $2.50 billion, a PE ratio of -61.27 and a beta of 1.14.

Institutional Investors Weigh In On Alpine Immune Sciences

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Alpine Immune Sciences by 745.5% during the fourth 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 stake in shares of Alpine Immune Sciences by 99.1% during the second quarter. Royal Bank of Canada now owns 2,642 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 1,315 shares during the period. ADAR1 Capital Management LLC bought a new stake in Alpine Immune Sciences in the fourth quarter valued at about $58,000. AJOVista LLC bought a new stake in Alpine Immune Sciences in the fourth quarter valued at about $64,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Alpine Immune Sciences in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

About Alpine Immune Sciences

(Get Free Report)

Alpine Immune Sciences, Inc operates as a clinical-stage immunotherapy company. It focuses on creating various immunotherapies through protein engineering technologies for autoimmune and inflammatory diseases. The company has strategic collaborations with biopharmaceutical companies and has a pipeline of clinical and preclinical candidates in development.

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