Fiduciary Trust Co Sells 4,220 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Fiduciary Trust Co cut its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,066 shares of the company’s stock after selling 4,220 shares during the quarter. Fiduciary Trust Co’s holdings in Apellis Pharmaceuticals were worth $6,808,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Apellis Pharmaceuticals by 42.2% in the second quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after purchasing an additional 39,931 shares in the last quarter. Profund Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 90.7% in the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after buying an additional 20,435 shares in the last quarter. Algert Global LLC increased its position in shares of Apellis Pharmaceuticals by 137.8% in the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock valued at $4,742,000 after buying an additional 71,650 shares in the last quarter. Edgestream Partners L.P. raised its stake in Apellis Pharmaceuticals by 240.4% during the 2nd quarter. Edgestream Partners L.P. now owns 54,572 shares of the company’s stock worth $2,093,000 after buying an additional 38,541 shares during the period. Finally, AlphaCentric Advisors LLC bought a new position in Apellis Pharmaceuticals during the third quarter worth about $1,370,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APLS. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. William Blair began coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating on the stock. Needham & Company LLC lowered their price objective on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. 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 price objective on the stock. Finally, Mizuho lowered their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $3,623,000. The trade was a 27.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.80% of the stock is owned by company insiders.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $34.14 on Friday. 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 company has a market capitalization of $4.25 billion, a P/E ratio of -16.82 and a beta of 0.87. Apellis Pharmaceuticals, Inc. has a 12 month low of $24.34 and a 12 month high of $73.80. The stock has a 50 day moving average of $28.74 and a 200-day moving average of $35.41.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) earnings per share. As a group, equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.71 EPS for the current 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).