Orbimed Advisors reduces its stake in Alpine Immune Sciences, Inc. By Investing.com

On December 28, Orbimed Advisors sold 455,000 shares of Alpine Immune Sciences, Inc. (NASDAQ 🙂 for $ 7 million at an average price of $ 15.44 per share. Shares of Alpine Immune Sciences, Inc. fell -18.65% since the transaction. Orbimed Advisors’ interest in Alpine Immune Sciences, Inc. decreased to approximately 3.2 million shares with the transaction. Orbimed Advisors first purchased shares of Alpine Immune Sciences, Inc. in the third quarter of 2017. Orbimed Advisors also owns Bristol-Myers Squibb Co (NYSE :), Merck (MRK), Larimar Therapeutics, Inc. (LRMR) and Mirati Therapeutics Inc (NASDAQ :). Alpine Immune Sciences, Inc. is ranked 21st by number of shares and market value among biotech and life science stocks. In contrast, Farallon Capital Management and Millennium Management established new interests in Alpine Immune Sciences, Inc. Orbimed Advisors has also recently reduced its participation in LogicBio Therapeutics, Inc. (LOGC) and Keros Therapeutics, Inc. (KROS). The total value of the shares sold is estimated at about $ 40 million. Orbimed Advisors also reduced its stake in Arcutis Biotherapeutics, Inc. (NASDAQ 🙂 and Oric Pharmaceuticals, Inc. (ORIC). The total value of the shares sold is estimated to be around $ 17 million.

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