Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 1,388.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 744,194 shares of the company's stock after acquiring an additional 694,194 shares during the period. Balyasny Asset Management L.P. owned 0.60% of Apellis Pharmaceuticals worth $23,747,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Apellis Pharmaceuticals by 72.3% during the 4th quarter. Bank of America Corp DE now owns 1,680,213 shares of the company's stock worth $53,616,000 after purchasing an additional 705,209 shares during the period. BNP Paribas Financial Markets increased its position in Apellis Pharmaceuticals by 432.8% during the 4th quarter. BNP Paribas Financial Markets now owns 850,823 shares of the company's stock worth $27,150,000 after purchasing an additional 691,123 shares during the period. Ameriprise Financial Inc. increased its position in Apellis Pharmaceuticals by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 882,801 shares of the company's stock worth $28,170,000 after purchasing an additional 22,507 shares during the period. Algert Global LLC increased its position in Apellis Pharmaceuticals by 242.5% during the 4th quarter. Algert Global LLC now owns 282,285 shares of the company's stock worth $9,008,000 after purchasing an additional 199,874 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in Apellis Pharmaceuticals during the 4th quarter worth approximately $45,504,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Price Performance

APLS stock traded up $0.14 on Monday, reaching $17.44. The company had a trading volume of 681,140 shares, compared to its average volume of 2,208,456. Apellis Pharmaceuticals, Inc. has a 1 year low of $16.65 and a 1 year high of $43.99. 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 company's fifty day moving average is $21.15 and its 200 day moving average is $27.05. The company has a market cap of $2.19 billion, a P/E ratio of -8.58 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The company had revenue of $149.90 million during the quarter, compared to analysts' expectations of $197.61 million. During the same period in the previous year, the company posted ($0.54) EPS. Apellis Pharmaceuticals's quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APLS has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday. Bank of America cut Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $41.00 to $23.00 in a research report on Friday. Scotiabank dropped their target price on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Thursday. The Goldman Sachs Group dropped their target price on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald began coverage on Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They set an "overweight" rating and a $44.00 price target on the stock. Nine research 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.37.

Insider Activity at Apellis Pharmaceuticals

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 stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the completion of the transaction, the general counsel now directly 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 legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 6,115 shares of company stock valued at $154,684. 6.50% of the stock is owned by corporate insiders.

Apellis Pharmaceuticals 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).