Toronto Dominion Bank Buys 971,431 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Toronto Dominion Bank grew its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 3,791.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 997,053 shares of the company's stock after acquiring an additional 971,431 shares during the period. Toronto Dominion Bank owned about 0.80% of Apellis Pharmaceuticals worth $31,816,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Suvretta Capital Management LLC bought a new position in Apellis Pharmaceuticals during the 4th quarter worth approximately $25,311,000. Royal Bank of Canada grew its holdings in Apellis Pharmaceuticals by 969.6% during the 4th quarter. Royal Bank of Canada now owns 1,518,827 shares of the company's stock worth $48,465,000 after acquiring an additional 1,376,832 shares during the period. Rafferty Asset Management LLC raised its position in shares of Apellis Pharmaceuticals by 18.3% in the 4th quarter. Rafferty Asset Management LLC now owns 241,474 shares of the company's stock worth $7,705,000 after acquiring an additional 37,328 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Apellis Pharmaceuticals in the 4th quarter worth about $40,461,000. Finally, Point72 Europe London LLP acquired a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at about $6,149,000. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 5,569 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the transaction, the general counsel now directly owns 138,730 shares of the company's stock, valued at approximately $3,482,123. The trade was a 3.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.50% of the company's stock.

Apellis Pharmaceuticals Stock Up 2.1%

Apellis Pharmaceuticals stock traded up $0.36 during midday trading on Thursday, hitting $17.78. 1,690,921 shares of the stock were exchanged, compared to its average volume of 2,261,638. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $43.99. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The business's 50-day moving average price is $19.91 and its 200-day moving average price is $26.50. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.76 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results 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). The business 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 period in the prior year, the company earned ($0.54) earnings per share. On average, research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APLS has been the subject of several recent analyst reports. Needham & Company LLC decreased their target price on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. 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 note on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. Finally, Wedbush cut their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Nine investment 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's stock. According to MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $39.89.

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).