Victory Capital Management Inc. Has $36.89 Million Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. lessened its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 616,272 shares of the company's stock after selling 122,239 shares during the period. Victory Capital Management Inc. owned about 0.52% of Apellis Pharmaceuticals worth $36,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in APLS. First Horizon Advisors Inc. boosted its holdings in shares of Apellis Pharmaceuticals by 69.0% during the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company's stock valued at $25,000 after acquiring an additional 265 shares during the period. Covestor Ltd boosted its holdings in shares of Apellis Pharmaceuticals by 564.2% during the third quarter. Covestor Ltd now owns 797 shares of the company's stock valued at $30,000 after acquiring an additional 677 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Apellis Pharmaceuticals by 29.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company's stock valued at $115,000 after acquiring an additional 687 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Apellis Pharmaceuticals by 280.5% during the third quarter. Quantbot Technologies LP now owns 4,798 shares of the company's stock valued at $183,000 after acquiring an additional 3,537 shares during the period. Finally, Jacob Asset Management of New York LLC boosted its holdings in shares of Apellis Pharmaceuticals by 1,017.5% during the third quarter. Jacob Asset Management of New York LLC now owns 4,850 shares of the company's stock valued at $184,000 after acquiring an additional 4,416 shares during the period. Institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock traded down $4.91 during trading hours on Tuesday, reaching $43.90. 4,518,713 shares of the company were exchanged, compared to its average volume of 1,573,350. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -9.80 and a beta of 0.97. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $55.25 and a 200 day moving average of $57.54. Apellis Pharmaceuticals, Inc. has a 12 month low of $19.83 and a 12 month high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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%. The company's revenue was up 545.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.50) earnings per share. As a group, research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APLS. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. UBS Group upped their price objective on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a "buy" rating in a report on Monday, March 4th. The Goldman Sachs Group boosted their price target on shares of Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, January 9th. Finally, Jefferies Financial Group upgraded shares of Apellis Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their price target for the stock from $68.00 to $80.00 in a research report on Monday, February 5th. Three 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 currently has an average rating of "Moderate Buy" and a consensus price target of $77.40.

Insider Activity

In other news, CEO Cedric Francois sold 250,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $16,027,500.00. Following the completion of the sale, the chief executive officer now directly owns 313,662 shares of the company's stock, valued at $20,108,870.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Cedric Francois sold 250,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $16,027,500.00. Following the completion of the sale, the chief executive officer now directly owns 313,662 shares of the company's stock, valued at $20,108,870.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David O. Watson sold 781 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the sale, the general counsel now directly owns 103,390 shares of the company's stock, valued at $7,006,740.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,427 shares of company stock valued at $23,169,639. 7.50% of the stock is owned by company insiders.

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).