Apellis Pharmaceuticals (NASDAQ:APLS) Shares Down 4.8% – Should You Sell?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) dropped 4.8% during trading on Wednesday . The company traded as low as $27.57 and last traded at $27.60. Approximately 844,801 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,890,824 shares. The stock had previously closed at $28.99.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APLS. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Robert W. Baird cut their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. HC Wainwright decreased their price objective on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Finally, Citigroup decreased their price target on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.94.

Apellis Pharmaceuticals Trading Up 2.6 %

The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -13.80 and a beta of 0.87. The firm’s 50-day moving average is $29.06 and its 200 day moving average is $35.79.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The business had revenue of $196.83 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($1.17) EPS. On average, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. The trade was a 27.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new stake in Apellis Pharmaceuticals during the 3rd quarter worth about $27,000. True Wealth Design LLC bought a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in Apellis Pharmaceuticals during the third quarter worth approximately $56,000. KBC Group NV increased its holdings in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).