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

Pallas Capital Advisors LLC raised its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 218.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,534 shares of the company's stock after buying an additional 29,165 shares during the quarter. 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Apellis Pharmaceuticals by 48.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the company's stock valued at $966,000 after purchasing an additional 14,426 shares during the last quarter. Merit Financial Group LLC boosted its position in Apellis Pharmaceuticals by 324.4% during the first quarter. Merit Financial Group LLC now owns 33,762 shares of the company's stock worth $738,000 after purchasing an additional 25,806 shares during the period. GAMMA Investing LLC grew its stake in Apellis Pharmaceuticals by 1,795.4% in the 1st quarter. GAMMA Investing LLC now owns 10,235 shares of the company's stock valued at $224,000 after buying an additional 9,695 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Apellis Pharmaceuticals by 140.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,594 shares of the company's stock worth $1,072,000 after purchasing an additional 19,641 shares during the period. Finally, Toronto Dominion Bank increased its position in Apellis Pharmaceuticals by 3,791.4% during the 4th quarter. Toronto Dominion Bank now owns 997,053 shares of the company's stock worth $31,816,000 after buying an additional 971,431 shares during the period. Institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Stock Down 2.2%

NASDAQ:APLS traded down $0.43 during trading hours on Friday, reaching $18.83. The company's stock had a trading volume of 1,172,054 shares, compared to its average volume of 2,342,493. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The company has a market capitalization of $2.37 billion, a P/E ratio of -9.28 and a beta of 0.68. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.10 and a 12 month high of $43.15. The stock has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $25.20.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Bank of America lowered Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $41.00 to $23.00 in a research report on Friday, May 9th. Citigroup dropped their price target on shares of Apellis Pharmaceuticals from $49.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird cut their target price on Apellis Pharmaceuticals from $55.00 to $47.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.05.

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).