Pictet Asset Management Holding SA Has $9.84 Million Stock Holdings in Apellis Pharmaceuticals, Inc. $APLS

Key Points

• Pictet Asset Management raised its stake in Apellis to 390,884 shares (0.31% ownership), adding 27,434 shares in Q4 and valuing its position at about $9.84 million.
• Institutional ownership is very high at 96.29%, with several large managers—including Goldman Sachs (307,709 shares), UBS, Mirae and Acadian—recently increasing their positions.
• Analysts have a consensus "Hold" rating with a $34.89 price target after multiple downgrades; Apellis beat quarterly EPS estimates ($0.47 vs. -$0.39) but revenue was down 5.9% YoY and analysts forecast -1.23 EPS for the current year.

Pictet Asset Management Holding SA grew its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,884 shares of the company's stock after acquiring an additional 27,434 shares during the quarter. Pictet Asset Management Holding SA owned 0.31% of Apellis Pharmaceuticals worth $9,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of APLS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Apellis Pharmaceuticals by 207.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,559 shares of the company's stock valued at $667,000 after acquiring an additional 19,944 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Apellis Pharmaceuticals by 26.6% in the first quarter. Goldman Sachs Group Inc. now owns 307,709 shares of the company's stock valued at $6,730,000 after acquiring an additional 64,742 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Apellis Pharmaceuticals by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,634 shares of the company's stock valued at $4,869,000 after acquiring an additional 9,747 shares during the period. Focus Partners Wealth boosted its position in shares of Apellis Pharmaceuticals by 118.4% in the first quarter. Focus Partners Wealth now owns 21,883 shares of the company's stock valued at $479,000 after acquiring an additional 11,862 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Apellis Pharmaceuticals by 1,146.2% in the first quarter. Acadian Asset Management LLC now owns 23,976 shares of the company's stock valued at $522,000 after acquiring an additional 22,052 shares during the period. 96.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APLS has been the subject of several research reports. Wall Street Zen cut Apellis Pharmaceuticals from a "buy" rating to a "sell" rating in a research report on Saturday, February 28th. HC Wainwright cut Apellis Pharmaceuticals from a "buy" rating to a "hold" rating and reduced their price objective for the company from $48.00 to $41.00 in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced their price objective on Apellis Pharmaceuticals from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 25th. Raymond James Financial cut Apellis Pharmaceuticals from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $19.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, January 12th. Three research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of "Hold" and a consensus price target of $34.89.

Apellis Pharmaceuticals Stock Up 0.0%

Shares of APLS stock opened at $40.96 on Friday. The stock has a market cap of $5.24 billion, a P/E ratio of 315.10 and a beta of -0.24. Apellis Pharmaceuticals, Inc. has a one year low of $16.10 and a one year high of $41.00. The stock has a fifty day moving average price of $29.22 and a 200 day moving average price of $25.23. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.14 and a quick ratio of 2.70.

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

Apellis Pharmaceuticals Profile

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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