Insider Selling: Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Insider Sells $10,360.02 in Stock

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) insider Mark Jeffrey Delong sold 363 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $28.54, for a total value of $10,360.02. Following the transaction, the insider now directly owns 83,945 shares of the company’s stock, valued at $2,395,790.30. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $27.40 on Friday. The stock’s 50-day simple moving average is $31.21 and its 200-day simple moving average is $32.19. 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 $3.41 billion, a price-to-earnings ratio of -13.50 and a beta of 0.96. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

Wall Street Analysts Forecast Growth

APLS has been the subject of several research reports. Scotiabank decreased their target price on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Piper Sandler decreased their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Bank of America decreased their target price 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. Citigroup decreased their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Robert W. Baird decreased their target price 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. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position 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 worth $112,036,000 after buying an additional 735,160 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter worth about $1,370,000. GSA Capital Partners LLP purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter worth about $824,000. BNP Paribas Financial Markets lifted its position in shares of Apellis Pharmaceuticals by 52.9% in the third quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock worth $4,606,000 after buying an additional 55,282 shares in the last quarter. Finally, Old West Investment Management LLC purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter worth about $2,953,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).