Landscape Capital Management L.L.C. Reduces Stake in Apellis Pharmaceuticals, Inc. $APLS

Key Points

• Landscape Capital Management L.L.C. has reduced its stake in Apellis Pharmaceuticals by 22% during the first quarter, holding 38,988 shares after selling 10,998 shares.
• CEO Cedric Francois sold 175,037 shares of the company for approximately $4.93 million, which represents a 32.84% decrease in his ownership.
• Apellis Pharmaceuticals saw its recent quarterly earnings report showing a 10.6% decline year-over-year in revenue, posting $171.39 million against an expected $187.91 million.

Landscape Capital Management L.L.C. reduced its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 22.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,988 shares of the company's stock after selling 10,998 shares during the period. Landscape Capital Management L.L.C.'s holdings in Apellis Pharmaceuticals were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GF Fund Management CO. LTD. boosted its stake in shares of Apellis Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock worth $70,000 after buying an additional 573 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Apellis Pharmaceuticals by 0.5% in the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company's stock worth $6,046,000 after buying an additional 913 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Apellis Pharmaceuticals by 3,938.7% in the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company's stock worth $27,000 after buying an additional 1,221 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Apellis Pharmaceuticals by 19.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,615 shares of the company's stock worth $307,000 after buying an additional 1,578 shares during the last quarter. Finally, Xponance Inc. lifted its position in Apellis Pharmaceuticals by 14.4% during the first quarter. Xponance Inc. now owns 16,097 shares of the company's stock valued at $352,000 after purchasing an additional 2,025 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Cedric Francois sold 175,037 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $28.19, for a total value of $4,934,293.03. Following the transaction, the chief executive officer directly owned 357,909 shares in the company, valued at $10,089,454.71. The trade was a 32.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David O. Watson sold 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $27.80, for a total value of $139,000.00. Following the completion of the transaction, the general counsel owned 123,730 shares in the company, valued at $3,439,694. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 399,090 shares of company stock worth $9,895,574 over the last 90 days. Company insiders own 6.50% of the company's stock.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $27.57 on Friday. The stock's 50-day simple moving average is $21.97 and its 200-day simple moving average is $21.33. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $41.94. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -15.15 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 (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.11. Apellis Pharmaceuticals had a negative return on equity of 116.09% and a negative net margin of 30.24%.The business had revenue of $171.39 million for the quarter, compared to the consensus estimate of $187.91 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The business's revenue was down 10.6% on a year-over-year basis. As a group, analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APLS. Wells Fargo & Company lifted their target price 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. Mizuho lowered their target price on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Raymond James Financial lowered their target price on Apellis Pharmaceuticals from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Citigroup lifted their target price on Apellis Pharmaceuticals from $41.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Scotiabank lowered their target price on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.12.

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).

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