Rhenman & Partners Asset Management AB Has $5.26 Million Stock Position in Apellis Pharmaceuticals, Inc. $APLS

Key Points

• Rhenman & Partners boosted its Apellis stake 149.1% in Q3 to 232,250 shares worth $5.26M, and other institutions (e.g., Marshall Wace, AQR, Norges Bank) also added large positions, leaving institutional ownership at 96.29%.
• Insider selling was notable: CEO Cedric Francois sold 27,192 shares (and another insider sold 5,928), with insiders offloading 120,537 shares (~$2.61M) over the quarter while still owning 6.50% of the company.
• Financials and analyst view: Apellis beat EPS estimates ($0.47 vs. -$0.39) on roughly $199.9M revenue (down 5.9% YoY), and analysts have an average rating of "Hold" with a $32.72 average target price.

Rhenman & Partners Asset Management AB increased its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 149.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 232,250 shares of the company's stock after acquiring an additional 139,000 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.18% of Apellis Pharmaceuticals worth $5,256,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in APLS. Marshall Wace LLP raised its holdings in Apellis Pharmaceuticals by 11,373.8% during the 2nd quarter. Marshall Wace LLP now owns 2,704,837 shares of the company's stock worth $46,821,000 after purchasing an additional 2,681,263 shares during the last quarter. Norges Bank acquired a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter worth approximately $40,977,000. AQR Capital Management LLC raised its stake in shares of Apellis Pharmaceuticals by 46.6% during the second quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company's stock worth $103,452,000 after buying an additional 1,898,995 shares during the last quarter. Amundi lifted its holdings in Apellis Pharmaceuticals by 386.7% in the second quarter. Amundi now owns 1,604,105 shares of the company's stock valued at $28,585,000 after buying an additional 1,274,523 shares during the period. Finally, ING Groep NV boosted its stake in Apellis Pharmaceuticals by 281.0% in the third quarter. ING Groep NV now owns 1,174,500 shares of the company's stock valued at $26,579,000 after acquiring an additional 866,200 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on APLS shares. Mizuho upped their target price on shares of Apellis Pharmaceuticals from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays initiated coverage on Apellis Pharmaceuticals in a research report on Wednesday, January 28th. They issued an "equal weight" rating and a $24.00 price target on the stock. Wall Street Zen downgraded Apellis Pharmaceuticals from a "buy" rating to a "sell" rating in a report on Saturday, February 28th. Needham & Company LLC cut their target price on Apellis Pharmaceuticals from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company reduced their target price on Apellis Pharmaceuticals from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Tuesday, January 20th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals has an average rating of "Hold" and an average target price of $32.72.

Insider Activity at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 27,192 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $591,969.84. Following the completion of the sale, the chief executive officer owned 286,045 shares of the company's stock, valued at approximately $6,227,199.65. This represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pascal Deschatelets sold 5,928 shares of the firm's stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total transaction of $129,052.56. Following the completion of the transaction, the insider directly owned 1,151,382 shares of the company's stock, valued at $25,065,586.14. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 120,537 shares of company stock worth $2,608,532. Insiders own 6.50% of the company's stock.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $20.07 on Friday. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.10 and a 12 month high of $30.48. The company's fifty day simple moving average is $22.50 and its 200-day simple moving average is $23.55. The firm has a market cap of $2.57 billion, a PE ratio of 154.40 and a beta of 0.26. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.86. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The business had revenue of $199.91 million during the quarter, compared to the consensus estimate of $199.28 million. During the same quarter last year, the firm earned ($0.29) earnings per share. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Apellis Pharmaceuticals Company 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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