Victory Capital Management Inc. Has $4.71 Million Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. lowered its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 61.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215,152 shares of the company's stock after selling 347,117 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Apellis Pharmaceuticals worth $4,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of APLS. Teacher Retirement System of Texas raised its stake in Apellis Pharmaceuticals by 9.4% in the fourth quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company's stock valued at $691,000 after purchasing an additional 1,864 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Apellis Pharmaceuticals by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 882,801 shares of the company's stock valued at $28,170,000 after purchasing an additional 22,507 shares in the last quarter. Cerity Partners LLC raised its stake in Apellis Pharmaceuticals by 16.7% in the first quarter. Cerity Partners LLC now owns 54,444 shares of the company's stock valued at $1,191,000 after purchasing an additional 7,777 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Apellis Pharmaceuticals by 147.8% in the first quarter. Assenagon Asset Management S.A. now owns 74,325 shares of the company's stock valued at $1,625,000 after purchasing an additional 44,332 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Apellis Pharmaceuticals by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,887 shares of the company's stock valued at $6,793,000 after purchasing an additional 21,822 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $19.59 on Friday. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $41.94. The business's 50 day moving average price is $18.50 and its two-hundred day moving average price is $22.09. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.62 and a current ratio of 4.08. The firm has a market cap of $2.46 billion, a PE ratio of -10.94 and a beta of 0.67.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.74) EPS 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 analysts' expectations of $197.61 million. Apellis Pharmaceuticals had a negative net margin of 28.83% and a negative return on equity of 99.19%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.54) earnings per share. On average, equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Analyst Ratings Changes

APLS has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Apellis Pharmaceuticals from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Cantor Fitzgerald began coverage on Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $44.00 target price on the stock. Scotiabank decreased their target price on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada decreased their target price 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 lifted their target price on Apellis Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the transaction, the general counsel owned 128,730 shares in the company, valued at $2,516,671.50. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cedric Francois sold 19,725 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $20.21, for a total value of $398,642.25. Following the completion of the transaction, the chief executive officer owned 331,605 shares of the company's stock, valued at $6,701,737.05. This trade represents a 5.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,090 shares of company stock valued at $3,403,832 over the last three months. 6.50% of the stock is currently owned by insiders.

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).

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