Toronto Dominion Bank Increases Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Toronto Dominion Bank increased its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 3,791.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 997,053 shares of the company's stock after purchasing an additional 971,431 shares during the quarter. Toronto Dominion Bank owned 0.80% of Apellis Pharmaceuticals worth $31,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its holdings in Apellis Pharmaceuticals by 5.6% in the fourth quarter. Xponance Inc. now owns 14,072 shares of the company's stock worth $449,000 after purchasing an additional 749 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Apellis Pharmaceuticals by 2,707.1% in the fourth 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 boosted its holdings in 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 purchasing an additional 918 shares during the last quarter. US Bancorp DE boosted its holdings in 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 purchasing an additional 1,327 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Apellis Pharmaceuticals by 19.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,615 shares of the company's stock worth $307,000 after purchasing an additional 1,578 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

APLS has been the topic of several research reports. Bank of America cut shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $41.00 to $23.00 in a report on Friday, May 9th. Citigroup dropped their target price on shares of Apellis Pharmaceuticals from $49.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday. Royal Bank of Canada dropped their price target on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Raymond James cut shares of Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $75.00 to $52.00 in a research note on Friday, May 9th. Finally, Cantor Fitzgerald assumed coverage on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They set an "overweight" rating and a $44.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.89.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,569 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the sale, the general counsel now owns 138,730 shares in the company, valued at $3,482,123. The trade was a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is owned by corporate insiders.

Apellis Pharmaceuticals Price Performance

Shares of APLS traded down $0.34 during trading hours on Friday, reaching $17.44. 1,293,648 shares of the stock traded hands, compared to its average volume of 2,266,992. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $43.76. The company's 50-day moving average price is $19.62 and its two-hundred day moving average price is $26.34. The company has a market cap of $2.19 billion, a P/E ratio of -8.59 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 for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $149.90 million for the quarter, compared to analysts' expectations of $197.61 million. During the same quarter last year, the firm posted ($0.54) EPS. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Apellis Pharmaceuticals Company 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).