Rafferty Asset Management LLC Buys 37,328 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Rafferty Asset Management LLC boosted its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,474 shares of the company's stock after acquiring an additional 37,328 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.19% of Apellis Pharmaceuticals worth $7,705,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after purchasing an additional 758 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock worth $37,000 after buying an additional 918 shares during the last quarter. US Bancorp DE lifted its stake in shares of Apellis Pharmaceuticals by 70.0% in the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock worth $103,000 after buying an additional 1,327 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Apellis Pharmaceuticals by 1,819.2% during the 4th quarter. Covestor Ltd now owns 3,992 shares of the company's stock worth $127,000 after buying an additional 3,784 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Apellis Pharmaceuticals by 89.0% in the 4th 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 during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Price Performance

Shares of APLS traded down $1.09 during mid-day trading on Wednesday, reaching $17.42. The company had a trading volume of 1,796,423 shares, compared to its average volume of 2,263,921. 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 company has a market capitalization of $2.19 billion, a P/E ratio of -8.58 and a beta of 0.73. Apellis Pharmaceuticals, Inc. has a twelve month low of $16.10 and a twelve month high of $43.99. The company's 50-day moving average is $20.05 and its 200-day moving average is $26.56.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). The company had revenue of $149.90 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.54) earnings per share. On average, equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Transactions at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 5,569 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total transaction of $139,781.90. Following the sale, the general counsel now directly owns 138,730 shares in the company, valued at $3,482,123. This represents a 3.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James lowered shares of Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $75.00 to $52.00 in a research report on Friday, May 9th. Robert W. Baird cut their price objective on Apellis Pharmaceuticals from $55.00 to $47.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Mizuho lowered their target price on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Royal Bank of Canada dropped their price target on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America downgraded shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $41.00 to $23.00 in a research note on Friday, May 9th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Apellis Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $40.42.

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).