Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Deep Track Capital LP

Deep Track Capital LP trimmed its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,274,921 shares of the company's stock after selling 125,733 shares during the quarter. Apellis Pharmaceuticals makes up approximately 5.1% of Deep Track Capital LP's investment portfolio, making the stock its 5th largest position. Deep Track Capital LP owned approximately 3.44% of Apellis Pharmaceuticals worth $136,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Boxer Capital Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth approximately $45,504,000. National Bank of Canada FI grew its holdings in shares of Apellis Pharmaceuticals by 266,361.5% during the fourth quarter. National Bank of Canada FI now owns 1,385,600 shares of the company's stock worth $44,214,000 after buying an additional 1,385,080 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Apellis Pharmaceuticals in the fourth quarter worth about $41,014,000. Avoro Capital Advisors LLC lifted its stake in shares of Apellis Pharmaceuticals by 10.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock worth $390,011,000 after buying an additional 1,111,111 shares in the last quarter. Finally, Norges Bank acquired a new position in Apellis Pharmaceuticals during the fourth quarter worth about $34,662,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Stock Down 2.9 %

APLS stock traded down $0.51 during midday trading on Friday, reaching $17.30. 2,957,758 shares of the company were exchanged, compared to its average volume of 2,209,139. The company has a market cap of $2.17 billion, a price-to-earnings 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, Inc. has a 1-year low of $16.65 and a 1-year high of $43.99. The stock's 50-day simple moving average is $21.31 and its 200 day simple moving average is $27.12.

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 (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 company had revenue of $149.90 million during the quarter, compared to analyst estimates of $197.61 million. During the same quarter in the prior year, the company earned ($0.54) EPS. The business's revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank decreased 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 note on Thursday. Raymond James downgraded Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $75.00 to $52.00 in a research report on Friday. Wells Fargo & Company cut their target price on Apellis Pharmaceuticals from $30.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday. Bank of America cut shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price target for the company from $41.00 to $23.00 in a research report on Friday. Finally, The Goldman Sachs Group reduced their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.37.

Insider Buying and Selling

In other news, General Counsel David O. Watson sold 5,569 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the transaction, the general counsel now directly owns 138,730 shares of the company's stock, valued at $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 available through this link. Insiders have sold 6,115 shares of company stock worth $154,684 in the last quarter. 6.50% of the stock is 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).