Siren L.L.C. Has $56.39 Million Stock Holdings in Apellis Pharmaceuticals, Inc. $APLS

Key Points

• Siren L.L.C. reduced its stake in Apellis Pharmaceuticals by 8.4%, selling 237,862 shares, and now holds about 2.05% of the company valued at approximately $56.39 million.
• Apellis Pharmaceuticals reported a net loss of $0.33 EPS for the quarter, surpassing analyst expectations but witnessing a 10.6% decline in revenue year-over-year.
• Institutional investors own nearly 96.29% of Apellis Pharmaceuticals, with significant activity including new positions and increases in holdings by other large investors.

Siren L.L.C. cut its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,578,396 shares of the company's stock after selling 237,862 shares during the quarter. Apellis Pharmaceuticals accounts for about 3.3% of Siren L.L.C.'s portfolio, making the stock its 6th biggest position. Siren L.L.C. owned approximately 2.05% of Apellis Pharmaceuticals worth $56,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Apellis Pharmaceuticals by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,130,356 shares of the company's stock worth $221,551,000 after purchasing an additional 84,331 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Apellis Pharmaceuticals by 127.2% in the fourth quarter. AQR Capital Management LLC now owns 1,856,442 shares of the company's stock valued at $59,239,000 after acquiring an additional 1,039,182 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Apellis Pharmaceuticals by 1.8% in the fourth quarter. Deutsche Bank AG now owns 1,778,377 shares of the company's stock valued at $56,748,000 after acquiring an additional 30,867 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Apellis Pharmaceuticals by 72.3% in the fourth quarter. Bank of America Corp DE now owns 1,680,213 shares of the company's stock valued at $53,616,000 after acquiring an additional 705,209 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Apellis Pharmaceuticals by 45.8% in the fourth quarter. Polar Capital Holdings Plc now owns 1,577,175 shares of the company's stock valued at $50,328,000 after acquiring an additional 495,175 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel David O. Watson sold 5,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $27.80, for a total value of $139,000.00. Following the completion of the transaction, the general counsel directly owned 123,730 shares of the company's stock, valued at $3,439,694. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cedric Francois sold 175,037 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $28.19, for a total value of $4,934,293.03. Following the completion of the transaction, the chief executive officer directly owned 357,909 shares of the company's stock, valued at $10,089,454.71. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 399,090 shares of company stock valued at $9,895,574 over the last ninety days. Corporate insiders own 6.80% of the company's stock.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS traded down $0.48 on Friday, hitting $27.57. 1,552,075 shares of the stock traded hands, compared to its average volume of 2,306,131. The business's fifty day moving average is $21.97 and its two-hundred day moving average is $21.29. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.10 and a 12 month high of $41.94. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -15.15 and a beta of 0.73. The company has a debt-to-equity ratio of 2.90, a quick ratio of 3.16 and a current ratio of 3.77.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.11. Apellis Pharmaceuticals had a negative return on equity of 116.09% and a negative net margin of 30.24%.The business had revenue of $171.39 million during the quarter, compared to analyst estimates of $187.91 million. During the same period in the prior year, the company earned ($0.30) earnings per share. Apellis Pharmaceuticals's revenue was down 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on APLS shares. Cantor Fitzgerald upped their target price on Apellis Pharmaceuticals from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Raymond James Financial reduced their target price on Apellis Pharmaceuticals from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Royal Bank Of Canada upped their target price on Apellis Pharmaceuticals from $17.00 to $19.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Needham & Company LLC reduced their target price on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on Apellis Pharmaceuticals from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $34.12.

Apellis Pharmaceuticals Profile

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).