Short Interest in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Decreases By 5.9%

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 21,810,000 shares, a drop of 5.9% from the November 15th total of 23,180,000 shares. Based on an average daily volume of 3,240,000 shares, the days-to-cover ratio is currently 6.7 days.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS opened at $33.66 on Tuesday. The business has a fifty day moving average price of $29.78 and a 200-day moving average price of $34.67. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The company has a market capitalization of $4.19 billion, a PE ratio of -16.58 and a beta of 0.94. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.17) earnings per share. As a group, equities analysts expect that Apellis Pharmaceuticals will post -1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter worth $27,000. True Wealth Design LLC purchased a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Apellis Pharmaceuticals in the 3rd quarter worth about $56,000. KBC Group NV raised its position in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after buying an additional 679 shares during the last quarter. Finally, nVerses Capital LLC raised its position in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after buying an additional 2,100 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APLS. The Goldman Sachs Group dropped their price objective on Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler dropped their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. Morgan Stanley started coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, Oppenheimer reduced their price target on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.94.

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).