Apellis Pharmaceuticals (NASDAQ:APLS) CFO Timothy Eugene Sullivan Sells 10,000 Shares

Key Points

• CFO Timothy Eugene Sullivan of Apellis Pharmaceuticals sold 10,000 shares of the company's stock for a total of $280,300, reducing his ownership by 8.27% to approximately $3.1 million.
• The company's stock price rose 1.7% to $28.61, with notable trading volume exceeding 2.6 million shares.
• Research analysts have mixed ratings on Apellis Pharmaceuticals, with Goldman Sachs lowering its rating from "neutral" to "sell" and setting a target price of $18, while Wells Fargo initiated coverage with an "overweight" rating and a target of $32.

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) CFO Timothy Eugene Sullivan sold 10,000 shares of the firm's stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the transaction, the chief financial officer directly owned 110,936 shares in the company, valued at approximately $3,109,536.08. The trade was a 8.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Apellis Pharmaceuticals Stock Up 1.7%

NASDAQ APLS traded up $0.47 during trading hours on Thursday, hitting $28.61. The company's stock had a trading volume of 2,681,871 shares, compared to its average volume of 2,286,680. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $35.72. The company has a market capitalization of $3.61 billion, a PE ratio of -15.72 and a beta of 0.69. The company has a current ratio of 3.77, a quick ratio of 3.16 and a debt-to-equity ratio of 2.90. The company's 50-day simple moving average is $25.57 and its two-hundred day simple moving average is $21.31.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.11. Apellis Pharmaceuticals had a negative net margin of 30.24% and a negative return on equity of 116.09%. The firm had revenue of $171.39 million for the quarter, compared to analysts' expectations of $187.91 million. During the same quarter last year, the firm earned ($0.30) EPS. The company's quarterly revenue was down 10.6% compared to the same quarter last year. Research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APLS shares. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $18.00 in a research report on Friday, September 26th. Wall Street Zen upgraded shares of Apellis Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Apellis Pharmaceuticals from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company started coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 15th. They set an "overweight" rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $33.47.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently made changes to their positions in APLS. Wealth Enhancement Advisory Services LLC grew its position in shares of Apellis Pharmaceuticals by 108.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 70,159 shares of the company's stock valued at $1,534,000 after purchasing an additional 36,565 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at $235,000. Diversified Trust Co purchased a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at $282,000. GF Fund Management CO. LTD. grew its position in shares of Apellis Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock valued at $70,000 after purchasing an additional 573 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Apellis Pharmaceuticals by 56.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 43,717 shares of the company's stock valued at $956,000 after purchasing an additional 15,766 shares in 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).

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