Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) CFO Sells $62,279.00 in Stock

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) CFO Timothy Eugene Sullivan sold 2,170 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the completion of the transaction, the chief financial officer now directly owns 88,100 shares in the company, valued at approximately $2,528,470. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Apellis Pharmaceuticals Trading Up 2.4 %

NASDAQ:APLS opened at $29.73 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. Apellis Pharmaceuticals, Inc. has a 1-year low of $24.34 and a 1-year high of $71.90. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -14.65 and a beta of 0.94. The business’s 50-day moving average price is $31.88 and its two-hundred day moving average price is $33.42.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly 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). The firm had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business’s revenue was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.17) earnings per share. On average, equities analysts expect that Apellis Pharmaceuticals, Inc. will post -1.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Braidwell LP raised its position in shares of 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 purchasing an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. lifted its position in 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 valued at $61,845,000 after acquiring an additional 1,409,707 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after purchasing an additional 735,160 shares during the period. Sphera Funds Management LTD. bought a new position in Apellis Pharmaceuticals during the 3rd quarter worth about $6,226,000. Finally, AQR Capital Management LLC boosted its position in shares of Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after buying an additional 190,420 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APLS has been the subject of a number of research reports. Bank of America decreased their price objective on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Citigroup cut their target price on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird reduced their price objective on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Mizuho dropped their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $46.65.

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).