Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,275,922 shares of the company's stock after selling 266,287 shares during the quarter. Jennison Associates LLC owned approximately 2.76% of Apellis Pharmaceuticals worth $196,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Wynnefield Capital Inc. purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $380,000. General American Investors Co. Inc. purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $1,712,000. Profund Advisors LLC grew its position in shares of Apellis Pharmaceuticals by 114.5% in the 3rd quarter. Profund Advisors LLC now owns 35,153 shares of the company's stock worth $1,337,000 after buying an additional 18,766 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Apellis Pharmaceuticals by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 879,357 shares of the company's stock worth $33,451,000 after buying an additional 50,835 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Apellis Pharmaceuticals by 109.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company's stock worth $128,400,000 after buying an additional 1,121,497 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 18,681 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total value of $1,068,179.58. Following the completion of the transaction, the director now owns 173,998 shares in the company, valued at approximately $9,949,205.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Nur Nicholson sold 835 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.14, for a total transaction of $53,556.90. Following the completion of the sale, the insider now directly owns 67,507 shares of the company's stock, valued at $4,329,898.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A. Sinclair Dunlop sold 18,681 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares of the company's stock, valued at $9,949,205.64. The disclosure for this sale can be found here. In the last three months, insiders sold 381,011 shares of company stock valued at $23,463,657. Company insiders own 7.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on APLS. Mizuho restated a "neutral" rating and set a $60.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, March 27th. Needham & Company LLC reissued a "buy" rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price objective on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, January 9th. HC Wainwright reaffirmed a "buy" rating and issued a $92.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.93.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock traded up $0.11 during mid-day trading on Monday, hitting $47.64. 784,470 shares of the stock were exchanged, compared to its average volume of 1,490,759. 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 12-month low of $19.83 and a 12-month high of $94.75. The stock's fifty day simple moving average is $59.71 and its two-hundred day simple moving average is $57.31. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -10.61 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.73). The company had revenue of $146.38 million during the quarter, compared to the consensus estimate of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company's revenue for the quarter was up 545.9% on a year-over-year basis. During the same period last year, the firm earned ($1.50) EPS. On average, analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.33 EPS for the current year.

About Apellis Pharmaceuticals

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).