Price T Rowe Associates Inc. MD Cuts Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Price T Rowe Associates Inc. MD cut its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 358,578 shares of the company's stock after selling 19,878 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.29% of Apellis Pharmaceuticals worth $11,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of APLS. EverSource Wealth Advisors LLC boosted its holdings in Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after buying an additional 758 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Apellis Pharmaceuticals by 357.2% in the 4th 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 grew its holdings in shares of Apellis Pharmaceuticals by 70.0% during the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock valued at $103,000 after purchasing an additional 1,327 shares during the last quarter. Covestor Ltd lifted its stake in Apellis Pharmaceuticals by 1,819.2% in the fourth quarter. Covestor Ltd now owns 3,992 shares of the company's stock valued at $127,000 after buying an additional 3,784 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Apellis Pharmaceuticals by 89.0% during the fourth quarter. Russell Investments Group Ltd. now owns 6,107 shares of the company's stock worth $195,000 after buying an additional 2,876 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APLS has been the topic of several analyst reports. Royal Bank of Canada cut their price objective on shares of Apellis Pharmaceuticals from $24.00 to $21.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company dropped their target price on shares of Apellis Pharmaceuticals from $30.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday. HC Wainwright reiterated a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald started coverage on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They set an "overweight" rating and a $44.00 target price on the stock. Eight investment 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.28.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS traded down $0.10 on Thursday, hitting $17.89. The company had a trading volume of 749,348 shares, compared to its average volume of 2,192,677. The stock has a 50 day moving average price of $21.43 and a 200 day moving average price of $27.19. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -8.81 and a beta of 0.73. Apellis Pharmaceuticals, Inc. has a 1-year low of $16.65 and a 1-year high of $44.12. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $149.90 million during the quarter, compared to the consensus estimate of $197.61 million. During the same quarter in the previous year, the business posted ($0.54) earnings per share. Apellis Pharmaceuticals's quarterly revenue was down 3.2% compared to the same quarter last year. Analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel David O. Watson sold 5,569 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the sale, the general counsel now owns 138,730 shares of the company's stock, valued at $3,482,123. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 6,115 shares of company stock worth $154,684. 6.80% of the stock is currently owned by corporate insiders.

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).