Jennison Associates LLC Reduces Holdings in Apellis Pharmaceuticals, Inc. $APLS

Jennison Associates LLC cut its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 65.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,504,299 shares of the company's stock after selling 2,843,756 shares during the quarter. Jennison Associates LLC owned 1.19% of Apellis Pharmaceuticals worth $37,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Apellis Pharmaceuticals by 206.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company's stock valued at $46,000 after purchasing an additional 1,373 shares during the last quarter. Osaic Holdings Inc. raised its position in Apellis Pharmaceuticals by 141.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,682 shares of the company's stock valued at $47,000 after purchasing an additional 1,570 shares during the last quarter. Allworth Financial LP raised its position in Apellis Pharmaceuticals by 64.1% during the 3rd quarter. Allworth Financial LP now owns 2,194 shares of the company's stock valued at $50,000 after purchasing an additional 857 shares during the last quarter. Quantbot Technologies LP bought a new position in Apellis Pharmaceuticals during the 3rd quarter valued at approximately $64,000. Finally, EverSource Wealth Advisors LLC raised its position in Apellis Pharmaceuticals by 338.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company's stock valued at $94,000 after purchasing an additional 4,191 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Trading Up 0.0%

APLS opened at $40.96 on Friday. The stock has a market cap of $5.24 billion, a PE ratio of 315.10 and a beta of -0.24. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $29.22 and a 200-day moving average of $25.22. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $41.00.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.86. The company had revenue of $199.91 million during the quarter, compared to analysts' expectations of $199.28 million. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS. Equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on APLS. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $41.00 price target (up from $37.00) on shares of Apellis Pharmaceuticals in a research report on Wednesday, April 1st. William Blair downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Robert W. Baird downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. The Goldman Sachs Group reissued a "sell" rating and set a $19.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, January 12th. Finally, Jefferies Financial Group downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $34.89.

Apellis Pharmaceuticals Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company's research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company's lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.

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