Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 13,369 shares of the company’s stock after selling 554 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Apellis Pharmaceuticals were worth $427,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Braidwell LP lifted its position in Apellis Pharmaceuticals by 410.8% during the third quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after buying an additional 2,513,383 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after acquiring an additional 1,409,707 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after acquiring an additional 735,160 shares during the period. Sphera Funds Management LTD. acquired a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $6,226,000. Finally, AQR Capital Management LLC grew its holdings in shares of Apellis Pharmaceuticals by 337.3% in the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after purchasing an additional 190,420 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 4,965 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $142,495.50. Following the sale, the general counsel now owns 107,756 shares of the company’s stock, valued at approximately $3,092,597.20. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock valued at $511,406 in the last ninety days. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on APLS. Bank of America reduced their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler reduced their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC cut their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. William Blair initiated coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company cut their price target on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $46.65.

Apellis Pharmaceuticals Stock Down 3.1 %

Shares of Apellis Pharmaceuticals stock opened at $27.69 on Wednesday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals, Inc. has a 52-week low of $24.34 and a 52-week high of $71.90. The company has a market capitalization of $3.44 billion, a P/E ratio of -13.64 and a beta of 0.94. The company has a 50 day moving average of $31.86 and a 200 day moving average of $33.48.

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

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).