Jennison Associates LLC Invests $2.69 Million in Alpine Immune Sciences, Inc. (NASDAQ:ALPN)

Jennison Associates LLC purchased a new stake in Alpine Immune Sciences, Inc. (NASDAQ:ALPN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 141,095 shares of the biotechnology company’s stock, valued at approximately $2,689,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Decheng Capital Management III Cayman LLC acquired a new position in shares of Alpine Immune Sciences during the third quarter valued at about $76,810,000. Vanguard Group Inc. increased its holdings in Alpine Immune Sciences by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,474,879 shares of the biotechnology company’s stock worth $16,887,000 after purchasing an additional 70,912 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Alpine Immune Sciences by 13.1% in the third quarter. Walleye Capital LLC now owns 186,273 shares of the biotechnology company’s stock worth $2,133,000 after purchasing an additional 21,600 shares during the last quarter. Nan Fung Group Holdings Ltd purchased a new stake in shares of Alpine Immune Sciences in the third quarter worth approximately $2,087,000. Finally, Bank of New York Mellon Corp lifted its holdings 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 valued at $1,062,000 after purchasing an additional 1,216 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ALPN has been the subject of a number of analyst reports. HC Wainwright lowered Alpine Immune Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $44.00 target price (up previously from $33.00) on shares of Alpine Immune Sciences in a report on Tuesday, March 19th. Guggenheim began coverage on shares of Alpine Immune Sciences in a report on Tuesday, April 9th. They set a “buy” rating and a $55.00 price target on the stock. Wedbush lowered shares of Alpine Immune Sciences from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 11th. Finally, TD Cowen reissued a “hold” rating on shares of Alpine Immune Sciences in a research report on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.33.

Alpine Immune Sciences Stock Down 0.1 %

Shares of ALPN stock opened at $64.56 on Friday. Alpine Immune Sciences, Inc. has a 52 week low of $6.71 and a 52 week high of $64.70. The firm’s 50-day simple moving average is $43.56 and its two-hundred day simple moving average is $26.63.

Alpine Immune Sciences (NASDAQ:ALPN) last issued its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 earnings per share (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 company had revenue of $30.85 million during the quarter, compared to analyst estimates of $6.90 million. Research analysts expect that Alpine Immune Sciences, Inc. will post -1.74 earnings per share for the current year.

Alpine Immune Sciences Profile

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.