Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) General Counsel David O. Watson Sells 2,201 Shares

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) General Counsel David O. Watson sold 2,201 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $29.96, for a total transaction of $65,941.96. Following the transaction, the general counsel now owns 105,555 shares in the company, valued at $3,162,427.80. The trade was a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $30.76 on Friday. The firm’s 50 day moving average price is $31.95 and its two-hundred day moving average price is $33.25. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals, Inc. has a twelve month low of $24.34 and a twelve month high of $71.90. The firm has a market cap of $3.83 billion, a P/E ratio of -15.15 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results 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). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. During the same period in the previous year, the company posted ($1.17) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of APLS. Envestnet Asset Management Inc. lifted its stake in Apellis Pharmaceuticals by 42.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after acquiring an additional 39,931 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after purchasing an additional 735,160 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Apellis Pharmaceuticals by 90.7% in the second quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock worth $1,648,000 after purchasing an additional 20,435 shares in the last quarter. Algert Global LLC boosted its holdings in Apellis Pharmaceuticals by 137.8% during the second quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after purchasing an additional 71,650 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Apellis Pharmaceuticals in the third quarter valued at $1,370,000. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APLS has been the topic of several recent research reports. Morgan Stanley initiated coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price target on the stock. Bank of America lowered their price target on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective on shares of Apellis Pharmaceuticals in a report on Tuesday. Piper Sandler lowered their target price on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, William Blair initiated coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $46.71.

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).