Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Braidwell LP

Braidwell LP reduced its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,098,866 shares of the company's stock after selling 1,026,317 shares during the period. Apellis Pharmaceuticals accounts for about 2.0% of Braidwell LP's investment portfolio, making the stock its 17th biggest position. Braidwell LP owned about 1.69% of Apellis Pharmaceuticals worth $66,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APLS. EverSource Wealth Advisors LLC lifted its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in 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. Signaturefd LLC raised its position in Apellis Pharmaceuticals by 357.2% during the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after purchasing an additional 918 shares during the period. US Bancorp DE lifted its stake in shares of Apellis Pharmaceuticals by 70.0% in the 4th quarter. US Bancorp DE now owns 3,223 shares of the company's stock valued at $103,000 after purchasing an additional 1,327 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Apellis Pharmaceuticals by 1,819.2% in the 4th quarter. Covestor Ltd now owns 3,992 shares of the company's stock worth $127,000 after purchasing an additional 3,784 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Apellis Pharmaceuticals by 89.0% during the 4th quarter. Russell Investments Group Ltd. now owns 6,107 shares of the company's stock valued at $195,000 after purchasing an additional 2,876 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

APLS has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price objective on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada cut their price target on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a report on Thursday. HC Wainwright reissued a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Robert W. Baird dropped their target price on Apellis Pharmaceuticals from $55.00 to $47.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Raymond James downgraded Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $75.00 to $52.00 in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.37.

Apellis Pharmaceuticals Stock Down 2.9 %

Apellis Pharmaceuticals stock traded down $0.51 during mid-day trading on Friday, reaching $17.30. 2,957,758 shares of the company were exchanged, compared to its average volume of 2,209,139. Apellis Pharmaceuticals, Inc. has a 12-month low of $16.65 and a 12-month high of $43.99. The business has a fifty day moving average of $21.31 and a 200 day moving average of $27.12. The firm has a market cap of $2.17 billion, a P/E ratio of -8.52 and a beta of 0.73. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). The company had revenue of $149.90 million for 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%. Apellis Pharmaceuticals's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.54) EPS. Research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel David O. Watson sold 5,569 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $3,482,123. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 6,115 shares of company stock worth $154,684. Corporate insiders own 6.50% of the company's stock.

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).