Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Stock Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC lessened its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,477,531 shares of the company's stock after selling 282,873 shares during the quarter. Jennison Associates LLC owned approximately 1.97% of Apellis Pharmaceuticals worth $54,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock valued at $25,000 after buying an additional 758 shares during the period. Signaturefd LLC boosted 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 last quarter. GF Fund Management CO. LTD. grew its stake in Apellis Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock valued at $70,000 after purchasing an additional 573 shares in the last quarter. Covestor Ltd increased its position in 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 last quarter. Finally, Russell Investments Group Ltd. raised its stake 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 worth $195,000 after purchasing an additional 2,876 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Stock Down 2.8%

NASDAQ:APLS opened at $19.47 on Friday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -10.88 and a beta of 0.67. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.62 and a current ratio of 4.08. The stock's fifty day moving average price is $18.23 and its two-hundred day moving average price is $22.64. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $41.94.

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 for the quarter, missing the consensus estimate 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 business 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) earnings per share. The company's quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the sale, the general counsel owned 128,730 shares of the company's stock, valued at $2,516,671.50. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cedric Francois sold 137,465 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $20.19, for a total value of $2,775,418.35. Following the transaction, the chief executive officer owned 343,433 shares of the company's stock, valued at approximately $6,933,912.27. The trade was a 28.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,090 shares of company stock worth $3,403,832. Insiders own 6.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APLS shares. Morgan Stanley upped their price objective on shares of Apellis Pharmaceuticals from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Mizuho decreased their price target on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. Scotiabank lowered their price objective on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Bank of America boosted their target price on Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Royal Bank Of Canada lowered their price target on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.00.

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).

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