Ameriprise Financial Inc. Boosts Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Ameriprise Financial Inc. boosted its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 882,801 shares of the company's stock after buying an additional 22,507 shares during the period. Ameriprise Financial Inc. owned approximately 0.71% of Apellis Pharmaceuticals worth $28,170,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC increased its position in Apellis Pharmaceuticals by 10.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock worth $390,011,000 after purchasing an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Apellis Pharmaceuticals by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,046,025 shares of the company's stock worth $320,569,000 after buying an additional 230,450 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Apellis Pharmaceuticals by 51.6% during the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company's stock worth $88,084,000 after buying an additional 939,289 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Apellis Pharmaceuticals by 127.2% during the fourth quarter. AQR Capital Management LLC now owns 1,856,442 shares of the company's stock worth $59,239,000 after buying an additional 1,039,182 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Apellis Pharmaceuticals by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company's stock worth $58,699,000 after buying an additional 28,426 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on APLS. Needham & Company LLC lowered their price target on shares of Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Scotiabank cut their target price on shares of Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They set an "overweight" rating and a $44.00 target price on the stock. Bank of America downgraded shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their target price for the stock from $41.00 to $23.00 in a research report on Friday, May 9th. Finally, Raymond James downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $75.00 to $52.00 in a research report on Friday, May 9th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $40.42.

Apellis Pharmaceuticals Trading Up 1.3%

Shares of NASDAQ:APLS traded up $0.22 during mid-day trading on Monday, hitting $17.67. The company had a trading volume of 2,554,841 shares, compared to its average volume of 2,253,630. The firm has a fifty day moving average price of $20.17 and a 200 day moving average price of $26.62. The company has a market capitalization of $2.22 billion, a PE ratio of -8.70 and a beta of 0.73. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals, Inc. has a one year low of $16.10 and a one year high of $43.99.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The company had revenue of $149.90 million during the quarter, compared to the consensus estimate of $197.61 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 down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.54) EPS. As a group, research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Activity

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,569 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total transaction of $139,781.90. Following the completion of the sale, the general counsel now owns 138,730 shares in the company, valued at approximately $3,482,123. The trade was a 3.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.50% of the stock is currently owned by company insiders.

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).