Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,275 shares of the company's stock after selling 16,243 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Apellis Pharmaceuticals worth $3,548,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APLS. First Horizon Advisors Inc. boosted its holdings in Apellis Pharmaceuticals by 69.0% in the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company's stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. Covestor Ltd boosted its holdings in Apellis Pharmaceuticals by 564.2% in the third quarter. Covestor Ltd now owns 797 shares of the company's stock valued at $30,000 after purchasing an additional 677 shares in the last quarter. Stephens Consulting LLC acquired a new position in Apellis Pharmaceuticals in the third quarter valued at approximately $38,000. US Bancorp DE boosted its holdings in Apellis Pharmaceuticals by 391.2% in the first quarter. US Bancorp DE now owns 1,110 shares of the company's stock valued at $56,000 after purchasing an additional 884 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Apellis Pharmaceuticals by 29.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company's stock valued at $115,000 after purchasing an additional 687 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Adam J. Townsend sold 3,413 shares of the firm's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $65.00, for a total value of $221,845.00. Following the completion of the transaction, the insider now owns 94,507 shares in the company, valued at $6,142,955. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Adam J. Townsend sold 3,413 shares of the firm's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $65.00, for a total value of $221,845.00. Following the completion of the transaction, the insider now owns 94,507 shares in the company, valued at $6,142,955. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy Eugene Sullivan sold 3,551 shares of the firm's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total value of $230,815.00. Following the completion of the transaction, the chief financial officer now owns 95,675 shares of the company's stock, valued at approximately $6,218,875. The disclosure for this sale can be found here. Over the last quarter, insiders sold 406,651 shares of company stock worth $25,130,257. 7.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APLS. Jefferies Financial Group raised Apellis Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $80.00 in a report on Monday, February 5th. Raymond James increased their price objective on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a "strong-buy" rating in a report on Thursday, January 11th. Oppenheimer increased their price objective on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Wedbush decreased their price objective on Apellis Pharmaceuticals from $67.00 to $57.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.93.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS traded up $0.02 during trading hours on Friday, hitting $47.53. The company's stock had a trading volume of 1,179,340 shares, compared to its average volume of 1,132,779. The business's 50-day moving average is $59.71 and its two-hundred day moving average is $57.17. The company has a market capitalization of $5.73 billion, a PE ratio of -10.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10. Apellis Pharmaceuticals, Inc. has a 52-week low of $19.83 and a 52-week high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.73). The firm had revenue of $146.38 million during the quarter, compared to analysts' expectations of $143.34 million. Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. Apellis Pharmaceuticals's revenue was up 545.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.50) earnings per share. As a group, research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.33 EPS for the current fiscal year.

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).