Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Holdings Raised by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 72.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,680,213 shares of the company's stock after purchasing an additional 705,209 shares during the quarter. Bank of America Corp DE owned approximately 1.35% of Apellis Pharmaceuticals worth $53,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in APLS. Avoro Capital Advisors LLC grew its position in Apellis Pharmaceuticals by 10.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock valued at $390,011,000 after acquiring an additional 1,111,111 shares during the period. Vanguard Group Inc. grew its position in Apellis Pharmaceuticals by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,046,025 shares of the company's stock valued at $320,569,000 after acquiring an additional 230,450 shares during the period. Jennison Associates LLC grew its position in Apellis Pharmaceuticals by 51.6% during the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company's stock valued at $88,084,000 after acquiring an additional 939,289 shares during the period. AQR Capital Management LLC grew its position in Apellis Pharmaceuticals by 127.2% during the fourth quarter. AQR Capital Management LLC now owns 1,856,442 shares of the company's stock valued at $59,239,000 after acquiring an additional 1,039,182 shares during the period. Finally, Geode Capital Management LLC grew its position in Apellis Pharmaceuticals by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company's stock valued at $58,699,000 after acquiring an additional 28,426 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Stock Up 6.7%

NASDAQ APLS traded up $1.09 on Friday, hitting $17.45. 5,275,588 shares of the stock traded hands, compared to its average volume of 2,246,877. The stock has a 50-day moving average of $20.32 and a 200 day moving average of $26.70. Apellis Pharmaceuticals, Inc. has a twelve month low of $16.10 and a twelve month high of $43.99. The company has a market capitalization of $2.19 billion, a P/E ratio of -8.60 and a beta of 0.73. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. During the same quarter in the previous year, the company earned ($0.54) EPS. The company's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho lowered their price target on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday. Needham & Company LLC decreased their target price on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Bank of America downgraded Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $41.00 to $23.00 in a research report on Friday, May 9th. Finally, Raymond James downgraded Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $75.00 to $52.00 in a research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $40.42.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, General Counsel David O. Watson sold 5,569 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total transaction of $139,781.90. Following the sale, the general counsel now directly owns 138,730 shares in the company, valued at approximately $3,482,123. This represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.50% of the stock is currently owned by 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).