Edgestream Partners L.P. Boosts Stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Edgestream Partners L.P. grew its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 119.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 241,287 shares of the company's stock after acquiring an additional 131,404 shares during the period. Edgestream Partners L.P. owned about 0.19% of Apellis Pharmaceuticals worth $5,277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake 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 worth $25,000 after buying an additional 758 shares during the last quarter. Signaturefd LLC grew its stake in shares of Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company's stock worth $37,000 after buying an additional 918 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Apellis Pharmaceuticals in the 4th quarter worth approximately $83,000. Covestor Ltd grew its stake 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 buying an additional 3,784 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Apellis Pharmaceuticals by 89.0% in the 4th quarter. Russell Investments Group Ltd. now owns 6,107 shares of the company's stock valued at $195,000 after acquiring an additional 2,876 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 5,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $18.77, for a total value of $93,850.00. Following the transaction, the general counsel directly owned 133,730 shares of the company's stock, valued at approximately $2,510,112.10. This trade represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

APLS has been the topic of several analyst reports. Raymond James Financial cut Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $75.00 to $52.00 in a research report on Friday, May 9th. Wells Fargo & Company upped their price objective on Apellis Pharmaceuticals from $26.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Royal Bank Of Canada lowered their price objective on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley upped their price objective on Apellis Pharmaceuticals from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Cantor Fitzgerald initiated coverage on Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $44.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Apellis Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $39.79.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS opened at $19.35 on Wednesday. The business's fifty day moving average price is $18.11 and its 200-day moving average price is $22.83. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -10.81 and a beta of 0.67. The company has a debt-to-equity ratio of 2.76, a current ratio of 4.08 and a quick ratio of 3.62. Apellis Pharmaceuticals, Inc. has a 1-year low of $16.10 and a 1-year high of $42.47.

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

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).

Want to see what other hedge funds are holding APLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.