Apellis Pharmaceuticals (NASDAQ:APLS) Sets New 52-Week Low – Here’s What Happened

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.99 and last traded at $23.24, with a volume of 57192 shares traded. The stock had previously closed at $24.27.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wedbush decreased their target price on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price objective on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.53.

Apellis Pharmaceuticals Trading Down 8.8 %

The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The stock has a market cap of $2.78 billion, a P/E ratio of -10.94 and a beta of 0.92. The stock has a 50-day moving average price of $27.04 and a 200-day moving average price of $29.46.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. During the same period in the previous year, the business posted ($0.73) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insiders Place Their Bets

In related news, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David O. Watson sold 5,569 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the completion of the sale, the general counsel now owns 138,730 shares in the company, valued at $3,482,123. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,054 shares of company stock valued at $1,952,719. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares during the last quarter. True Wealth Design LLC purchased a new stake in Apellis Pharmaceuticals in the third quarter worth approximately $27,000. Signaturefd LLC boosted its holdings in Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after purchasing an additional 918 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Apellis Pharmaceuticals during the 4th quarter valued at $83,000. Finally, US Bancorp DE raised its stake in Apellis Pharmaceuticals by 70.0% during the 4th quarter. US Bancorp DE now owns 3,223 shares of the company’s stock valued at $103,000 after buying an additional 1,327 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).