M&T Bank Corp Has $1.38 Million Stock Holdings in Apellis Pharmaceuticals, Inc. $APLS

Key Points

• M&T Bank Corp raised its stake in Apellis by 322.8% in Q4, buying an additional 42,041 shares to hold 55,066 shares worth about $1.38 million per its 13F filing.
• Apellis reported a surprise quarterly EPS of $0.47 (vs. -$0.39 est.) on roughly $199.9M in revenue, but the stock trades near its 1-year high (~$41) with a high PE (~315) and ~96% institutional ownership; analysts have a consensus "Hold" rating with an average target of $34.89 and expect -1.23 EPS for the year.

M&T Bank Corp raised its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 322.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,066 shares of the company's stock after purchasing an additional 42,041 shares during the quarter. M&T Bank Corp's holdings in Apellis Pharmaceuticals were worth $1,383,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wedmont Private Capital lifted its stake in shares of Apellis Pharmaceuticals by 4.1% in the 4th quarter. Wedmont Private Capital now owns 11,883 shares of the company's stock valued at $315,000 after acquiring an additional 468 shares during the last quarter. Amalgamated Bank raised its position in Apellis Pharmaceuticals by 6.9% during the 3rd quarter. Amalgamated Bank now owns 8,674 shares of the company's stock worth $196,000 after purchasing an additional 563 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 worth $50,000 after purchasing an additional 857 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Apellis Pharmaceuticals by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,148 shares of the company's stock worth $154,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Apellis Pharmaceuticals by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 50,358 shares of the company's stock worth $872,000 after purchasing an additional 1,353 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Stock Performance

APLS stock opened at $40.95 on Thursday. The stock has a 50-day moving average price of $28.85 and a 200-day moving average price of $25.11. Apellis Pharmaceuticals, Inc. has a 1-year low of $16.10 and a 1-year high of $41.00. The company has a current ratio of 3.14, a quick ratio of 2.70 and a debt-to-equity ratio of 0.98. The firm has a market cap of $5.23 billion, a PE ratio of 315.02 and a beta of -0.19.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.86. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The firm had revenue of $199.91 million during the quarter, compared to analyst estimates of $199.28 million. During the same period last year, the company posted ($0.29) EPS. The business's quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on APLS shares. Citigroup reaffirmed a "neutral" rating and set a $41.00 target price (down from $44.00) on shares of Apellis Pharmaceuticals in a research report on Wednesday, April 1st. Barclays raised their target price on Apellis Pharmaceuticals from $24.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 1st. Cantor Fitzgerald lowered Apellis Pharmaceuticals from an "overweight" rating to a "hold" rating in a research report on Tuesday, March 31st. Jefferies Financial Group lowered Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, Needham & Company LLC lowered Apellis Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of "Hold" and an average target price of $34.89.

About Apellis Pharmaceuticals

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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