Algert Global LLC Purchases 56,328 Shares of Apellis Pharmaceuticals, Inc. $APLS

Key Points

• Algert Global LLC has increased its stake in Apellis Pharmaceuticals by 20.0%, owning a total of 338,613 shares valued at approximately $7.4 million after acquiring an additional 56,328 shares in the first quarter.
• Institutional investors collectively own around 96.29% of Apellis Pharmaceuticals' stock, indicating strong institutional support for the company.
• Apellis Pharmaceuticals reported a quarterly revenue of $171.39 million, which was below the analyst estimates of $187.91 million, amidst a year-over-year revenue decline of 10.6%.

Algert Global LLC lifted its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,613 shares of the company's stock after purchasing an additional 56,328 shares during the period. Algert Global LLC owned 0.27% of Apellis Pharmaceuticals worth $7,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in shares of Apellis Pharmaceuticals in the 1st quarter worth about $344,000. Russell Investments Group Ltd. lifted its position in Apellis Pharmaceuticals by 537.0% during the 1st quarter. Russell Investments Group Ltd. now owns 38,903 shares of the company's stock valued at $851,000 after acquiring an additional 32,796 shares during the period. Nuveen LLC purchased a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $10,765,000. Aigen Investment Management LP purchased a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $342,000. Finally, Invesco Ltd. lifted its position in Apellis Pharmaceuticals by 6.3% during the 1st quarter. Invesco Ltd. now owns 641,397 shares of the company's stock valued at $14,027,000 after acquiring an additional 37,741 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Apellis Pharmaceuticals from $41.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada lifted their target price on shares of Apellis Pharmaceuticals from $17.00 to $19.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Cantor Fitzgerald lifted their target price on shares of Apellis Pharmaceuticals from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird lifted their target price on shares of Apellis Pharmaceuticals from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $34.12.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $27.80, for a total transaction of $139,000.00. Following the completion of the sale, the general counsel directly owned 123,730 shares of the company's stock, valued at approximately $3,439,694. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cedric Francois sold 19,725 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $20.21, for a total transaction of $398,642.25. Following the sale, the chief executive officer directly owned 331,605 shares of the company's stock, valued at approximately $6,701,737.05. This represents a 5.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,090 shares of company stock valued at $3,542,832. 6.50% of the stock is owned by corporate insiders.

Apellis Pharmaceuticals Stock Performance

APLS stock traded up $0.35 during midday trading on Friday, reaching $27.97. 1,823,727 shares of the company's stock traded hands, compared to its average volume of 3,146,253. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $41.94. The stock has a market cap of $3.53 billion, a P/E ratio of -15.37 and a beta of 0.78. 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 stock's 50-day moving average is $20.96 and its 200 day moving average is $21.44.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $171.39 million during the quarter, compared to analysts' expectations of $187.91 million. During the same period in the prior year, the company earned ($0.30) earnings per share. The firm's revenue was down 10.6% on a year-over-year basis. As a group, analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

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).