Principal Financial Group Inc. Has $4.97 Million Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Principal Financial Group Inc. boosted its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 254.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 84,604 shares of the company’s stock after acquiring an additional 60,741 shares during the period. Principal Financial Group Inc. owned 0.07% of Apellis Pharmaceuticals worth $4,973,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of APLS. Future Financial Wealth Managment LLC acquired a new stake in Apellis Pharmaceuticals during the 1st quarter worth $29,000. CWA Asset Management Group LLC bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth about $205,000. HC Advisors LLC bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth about $210,000. Woodward Diversified Capital LLC bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth about $210,000. Finally, Whittier Trust Co. bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth about $221,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

APLS has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler initiated coverage on shares of Apellis Pharmaceuticals in a research report on Friday, May 31st. They set a “neutral” rating and a $46.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Robert W. Baird reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, June 28th. Finally, Wedbush dropped their target price on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

Apellis Pharmaceuticals Price Performance

APLS traded up $0.49 on Friday, reaching $35.90. The company had a trading volume of 192,682 shares, compared to its average volume of 1,492,093. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $19.83 and a fifty-two week high of $87.77. The company’s fifty day moving average is $41.55 and its 200 day moving average is $54.21. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 0.35.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.54). The firm had revenue of $172.33 million for the quarter, compared to analyst estimates of $163.37 million. Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The business’s revenue was up 284.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.56) EPS. On average, analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the sale, the insider now owns 1,115,983 shares in the company, valued at approximately $47,261,880.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the transaction, the director now owns 136,998 shares of the company’s stock, valued at approximately $5,375,801.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the completion of the transaction, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $47,261,880.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,014 shares of company stock worth $8,537,118. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).