Pallas Capital Advisors LLC Increases Stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Pallas Capital Advisors LLC increased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 218.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,534 shares of the company's stock after buying an additional 29,165 shares during the period. Pallas Capital Advisors LLC's holdings in Apellis Pharmaceuticals were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APLS. Teacher Retirement System of Texas lifted its holdings in Apellis Pharmaceuticals by 9.4% in the 4th quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company's stock valued at $691,000 after purchasing an additional 1,864 shares in the last quarter. Entropy Technologies LP purchased a new position in Apellis Pharmaceuticals in the 4th quarter valued at $445,000. Ameriprise Financial Inc. lifted its holdings in Apellis Pharmaceuticals by 2.6% in the 4th quarter. Ameriprise Financial Inc. now owns 882,801 shares of the company's stock valued at $28,170,000 after purchasing an additional 22,507 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Apellis Pharmaceuticals by 11.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,887 shares of the company's stock valued at $6,793,000 after purchasing an additional 21,822 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Apellis Pharmaceuticals by 44.1% in the 4th quarter. Nuveen Asset Management LLC now owns 491,107 shares of the company's stock valued at $15,671,000 after purchasing an additional 150,384 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APLS. HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Bank of America lowered Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $41.00 to $23.00 in a report on Friday, May 9th. Raymond James lowered Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $75.00 to $52.00 in a report on Friday, May 9th. Finally, Scotiabank cut their target price on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.05.

Apellis Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:APLS traded down $0.01 during midday trading on Thursday, reaching $19.26. 1,302,533 shares of the company's stock were exchanged, compared to its average volume of 2,334,167. The firm's 50 day simple moving average is $18.31 and its two-hundred day simple moving average is $25.36. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -9.49 and a beta of 0.68. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $43.61.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $197.61 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.54) earnings per share. As a group, sell-side analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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).