Point72 Asset Management L.P. Makes New $40.46 Million Investment in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Point72 Asset Management L.P. acquired a new position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,267,958 shares of the company's stock, valued at approximately $40,461,000. Point72 Asset Management L.P. owned about 1.02% of Apellis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th 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 raised its stake in shares of Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after buying an additional 918 shares during the period. US Bancorp DE lifted its position in shares of Apellis Pharmaceuticals by 70.0% during the 4th quarter. US Bancorp DE now owns 3,223 shares of the company's stock valued at $103,000 after buying an additional 1,327 shares during the last quarter. Covestor Ltd grew its stake in shares of Apellis Pharmaceuticals by 1,819.2% during the 4th quarter. Covestor Ltd now owns 3,992 shares of the company's stock worth $127,000 after acquiring an additional 3,784 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Apellis Pharmaceuticals by 89.0% during the 4th quarter. Russell Investments Group Ltd. now owns 6,107 shares of the company's stock worth $195,000 after acquiring an additional 2,876 shares during the period. Institutional investors own 96.29% of the company's stock.

Insider Buying and Selling

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 transaction of $139,781.90. Following the transaction, the general counsel now directly owns 138,730 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 6.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APLS shares. Scotiabank dropped their price objective on shares of Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price target on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada cut their price objective on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Raymond James cut shares of Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $75.00 to $52.00 in a report on Friday, May 9th. Finally, Bank of America downgraded 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 research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.42.

Apellis Pharmaceuticals Price Performance

APLS traded down $1.02 during midday trading on Wednesday, hitting $17.49. The stock had a trading volume of 520,734 shares, compared to its average volume of 2,254,324. Apellis Pharmaceuticals, Inc. has a 1 year low of $16.10 and a 1 year high of $43.99. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The business has a fifty day moving average of $20.05 and a 200 day moving average of $26.56. The company has a market cap of $2.20 billion, a P/E ratio of -8.67 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) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $197.61 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. Apellis Pharmaceuticals's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.54) EPS. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share 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).