Envestnet Asset Management Inc. Raises Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Apellis Pharmaceuticals by 56.4% in the first quarter, now owning 43,717 shares valued at approximately $956,000.
• A number of other institutional investors also boosted their positions in Apellis, with the firm having a total of 96.29% of its stock owned by such entities.
• Analysts have mixed ratings on Apellis, with Cantor Fitzgerald raising its price target to $40.00 while Needham lowered it to $29.00, highlighting a consensus target price of $37.78.

Envestnet Asset Management Inc. lifted its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 56.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,717 shares of the company's stock after acquiring an additional 15,766 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Apellis Pharmaceuticals were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in APLS. Avoro Capital Advisors LLC raised its holdings in Apellis Pharmaceuticals by 10.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock valued at $390,011,000 after buying an additional 1,111,111 shares during the period. AQR Capital Management LLC boosted its position in Apellis Pharmaceuticals by 127.2% during the fourth quarter. AQR Capital Management LLC now owns 1,856,442 shares of the company's stock valued at $59,239,000 after purchasing an additional 1,039,182 shares in the last quarter. Geode Capital Management LLC raised its stake in Apellis Pharmaceuticals by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company's stock valued at $58,699,000 after buying an additional 28,426 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Apellis Pharmaceuticals by 1.8% during the fourth quarter. Deutsche Bank AG now owns 1,778,377 shares of the company's stock worth $56,748,000 after purchasing an additional 30,867 shares during the period. Finally, Bank of America Corp DE raised its position in Apellis Pharmaceuticals by 72.3% during the fourth quarter. Bank of America Corp DE now owns 1,680,213 shares of the company's stock valued at $53,616,000 after acquiring an additional 705,209 shares in the last quarter. Institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS traded down $0.54 during mid-day trading on Wednesday, hitting $23.66. The stock had a trading volume of 794,806 shares, compared to its average volume of 2,291,909. The company has a 50 day simple moving average of $19.04 and a 200 day simple moving average of $21.71. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -13.01 and a beta of 0.78. The company has a quick ratio of 3.16, a current ratio of 3.77 and a debt-to-equity ratio of 2.90. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.11. The company had revenue of $171.39 million during the quarter, compared to the consensus estimate of $187.91 million. Apellis Pharmaceuticals had a negative net margin of 30.24% and a negative return on equity of 116.09%. Apellis Pharmaceuticals's revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) EPS. Equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 137,465 shares of the company's stock in a transaction that occurred on 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. This represents a 28.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David O. Watson sold 5,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.55, for a total value of $97,750.00. Following the sale, the general counsel directly owned 128,730 shares in the company, valued at approximately $2,516,671.50. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,090 shares of company stock valued at $3,403,832. Insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APLS shares. Bank of America raised their price objective on shares of Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Apellis Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. Cantor Fitzgerald raised their price target on shares of Apellis Pharmaceuticals from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Citigroup lifted their price objective on shares of Apellis Pharmaceuticals from $41.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Mizuho lowered their target price on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.83.

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).