Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI has reduced its stake in Apellis Pharmaceuticals by 43.5%, selling 602,899 shares and now holding 782,701 shares valued at approximately $17.12 million.
• Apellis Pharmaceuticals reported a quarterly loss of ($0.33) earnings per share, surpassing analysts' estimates, but experienced a 10.6% year-over-year decline in revenue, totaling $171.39 million.
• Recent analyst ratings show increased price targets for Apellis Pharmaceuticals, with Cantor Fitzgerald raising its target from $39.00 to $40.00 and Citigroup increasing its target from $41.00 to $46.00, reflecting positive sentiment on the stock.

National Bank of Canada FI reduced its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 43.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 782,701 shares of the company's stock after selling 602,899 shares during the quarter. National Bank of Canada FI owned 0.62% of Apellis Pharmaceuticals worth $17,118,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of APLS. Assetmark Inc. increased its position in shares of Apellis Pharmaceuticals by 3,938.7% in the first quarter. Assetmark Inc. now owns 1,252 shares of the company's stock valued at $27,000 after buying an additional 1,221 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at approximately $83,000. Russell Investments Group Ltd. increased its position in shares of Apellis Pharmaceuticals by 89.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,107 shares of the company's stock valued at $195,000 after buying an additional 2,876 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth approximately $223,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth approximately $268,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 137,465 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $20.19, for a total transaction of $2,775,418.35. Following the completion of the transaction, the chief executive officer owned 343,433 shares of the company's stock, valued at approximately $6,933,912.27. This trade represents a 28.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the transaction, the general counsel directly owned 128,730 shares of the company's stock, valued at $2,516,671.50. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,090 shares of company stock valued at $3,403,832 over the last ninety days. 6.50% of the stock is currently owned by company insiders.

Apellis Pharmaceuticals Stock Up 0.5%

Shares of APLS traded up $0.13 during mid-day trading on Friday, reaching $27.75. The company's stock had a trading volume of 3,877,569 shares, compared to its average volume of 3,146,283. The stock has a market cap of $3.50 billion, a PE ratio of -15.25 and a beta of 0.78. The company has a debt-to-equity ratio of 2.90, a current ratio of 3.77 and a quick ratio of 3.16. Apellis Pharmaceuticals, Inc. has a 12-month low of $16.10 and a 12-month high of $41.94. The company's 50 day moving average is $20.17 and its 200 day moving average is $21.50.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.11. The business had revenue of $171.39 million during the quarter, compared to analysts' expectations of $187.91 million. Apellis Pharmaceuticals had a negative return on equity of 116.09% and a negative net margin of 30.24%. The company's quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) EPS. Equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APLS has been the subject of several research reports. Robert W. Baird boosted their price target on Apellis Pharmaceuticals from $47.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Needham & Company LLC lowered their price objective on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada boosted their price objective on Apellis Pharmaceuticals from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Wall Street Zen raised Apellis Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Citigroup boosted their price objective on Apellis Pharmaceuticals from $41.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.12.

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).