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

Jennison Associates LLC purchased a new position in shares of Alpine Immune Sciences, Inc. (NASDAQ:ALPN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 141,095 shares of the biotechnology company’s stock, valued at approximately $2,689,000. Jennison Associates LLC owned 0.24% of Alpine Immune Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $28,000 after acquiring an additional 1,312 shares in the last quarter. Barclays PLC lifted its holdings in shares of Alpine Immune Sciences by 44.3% during the 3rd quarter. Barclays PLC now owns 9,126 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 2,801 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Alpine Immune Sciences by 75.8% during the 3rd quarter. New York State Common Retirement Fund now owns 9,634 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 4,155 shares during the last quarter. SG Americas Securities LLC bought a new stake in Alpine Immune Sciences in the third quarter worth approximately $114,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Alpine Immune Sciences by 429.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,723 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 5,454 shares during the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Alpine Immune Sciences Stock Down 0.1 %

Shares of Alpine Immune Sciences stock opened at $64.56 on Friday. Alpine Immune Sciences, Inc. has a 1-year low of $6.71 and a 1-year high of $64.70. The firm’s 50-day moving average price is $43.56 and its two-hundred day moving average price is $26.63.

Alpine Immune Sciences (NASDAQ:ALPN) last released its quarterly earnings results on Monday, March 18th. The biotechnology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.47. Alpine Immune Sciences had a negative return on equity of 15.54% and a negative net margin of 54.66%. The business had revenue of $30.85 million for the quarter, compared to analyst estimates of $6.90 million. Research analysts anticipate that Alpine Immune Sciences, Inc. will post -1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALPN has been the subject of several analyst reports. HC Wainwright lowered shares of Alpine Immune Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 target price (up from $47.00) on shares of Alpine Immune Sciences in a research report on Thursday, April 11th. 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. Oppenheimer restated an “outperform” rating and issued a $44.00 price objective (up previously from $33.00) on shares of Alpine Immune Sciences in a research note on Tuesday, March 19th. Finally, Guggenheim assumed coverage on shares of Alpine Immune Sciences in a research report on Tuesday, April 9th. They set a “buy” rating and a $55.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.33.

Alpine Immune Sciences Company 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.