Cwm LLC Has $2.15 Million Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

CWM LLC lifted its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 120.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,258 shares of the company's stock after purchasing an additional 53,663 shares during the quarter. CWM LLC owned about 0.08% of Apellis Pharmaceuticals worth $2,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Xponance Inc. boosted its position in Apellis Pharmaceuticals by 14.4% during the first quarter. Xponance Inc. now owns 16,097 shares of the company's stock worth $352,000 after purchasing an additional 2,025 shares during the period. Cerity Partners LLC boosted its position in Apellis Pharmaceuticals by 16.7% during the first quarter. Cerity Partners LLC now owns 54,444 shares of the company's stock worth $1,191,000 after purchasing an additional 7,777 shares during the period. Envestnet Asset Management Inc. boosted its position in Apellis Pharmaceuticals by 56.4% during the first quarter. Envestnet Asset Management Inc. now owns 43,717 shares of the company's stock worth $956,000 after purchasing an additional 15,766 shares during the period. GF Fund Management CO. LTD. boosted its position in Apellis Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock worth $70,000 after purchasing an additional 573 shares during the period. Finally, Diversified Trust Co bought a new stake in Apellis Pharmaceuticals during the first quarter worth approximately $282,000. 96.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APLS has been the subject of a number of recent analyst reports. 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. Wells Fargo & Company upped their price target on Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Bank of America upped their price target on Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday. Scotiabank cut their price target on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Mizuho cut their price target on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Insider Buying and Selling

In other news, General Counsel David O. Watson sold 5,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the completion of the transaction, the general counsel directly owned 128,730 shares in the company, valued at approximately $2,516,671.50. The trade was a 3.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cedric Francois sold 19,725 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $20.21, for a total value of $398,642.25. Following the transaction, the chief executive officer owned 331,605 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 169,090 shares of company stock worth $3,403,832. Company insiders own 6.50% of the company's stock.

Apellis Pharmaceuticals Stock Down 2.8%

Shares of NASDAQ APLS traded down $0.57 during mid-day trading on Friday, reaching $19.47. 1,842,831 shares of the company's stock were exchanged, compared to its average volume of 2,375,401. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -10.88 and a beta of 0.67. The company has a current ratio of 4.08, a quick ratio of 3.62 and a debt-to-equity ratio of 2.76. The business has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $22.58. Apellis Pharmaceuticals, Inc. has a twelve month low of $16.10 and a twelve month high of $41.94.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative net margin of 28.83% and a negative return on equity of 99.19%. The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $197.61 million. During the same period in the prior year, the business posted ($0.54) EPS. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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).