T. Rowe Price Investment Management Inc. Sells 2,937,559 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

T. Rowe Price Investment Management Inc. lowered its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 98.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,713 shares of the company's stock after selling 2,937,559 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Apellis Pharmaceuticals were worth $1,523,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company's stock valued at $112,036,000 after acquiring an additional 735,160 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Apellis Pharmaceuticals by 9.4% in the 4th quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company's stock worth $691,000 after purchasing an additional 1,864 shares in the last quarter. KBC Group NV lifted its holdings in Apellis Pharmaceuticals by 3,862.3% in the 4th quarter. KBC Group NV now owns 104,287 shares of the company's stock worth $3,328,000 after purchasing an additional 101,655 shares in the last quarter. Entropy Technologies LP bought a new position in Apellis Pharmaceuticals in the 4th quarter worth approximately $445,000. Finally, Barclays PLC grew its holdings in Apellis Pharmaceuticals by 18.0% during the 3rd quarter. Barclays PLC now owns 255,897 shares of the company's stock valued at $7,381,000 after buying an additional 39,019 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Trading Up 4.5 %

Shares of APLS stock traded up $0.87 during trading hours on Thursday, reaching $20.08. 3,850,175 shares of the stock were exchanged, compared to its average volume of 2,166,291. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -9.89 and a beta of 0.85. The company's 50-day moving average price is $21.97 and its 200-day moving average price is $27.42. Apellis Pharmaceuticals, Inc. has a 12-month low of $16.98 and a 12-month high of $49.06. 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 issued its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.08. The firm had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) earnings per share. As a group, equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

APLS has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Cantor Fitzgerald began coverage on shares of Apellis Pharmaceuticals in a report on Tuesday. They set an "overweight" rating and a $44.00 price objective for the company. Royal Bank of Canada cut their price objective on Apellis Pharmaceuticals from $24.00 to $21.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. HC Wainwright reiterated a "buy" rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Finally, Wedbush cut their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.28.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,569 shares of the firm's stock in a transaction dated 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 owns 138,730 shares of the company's stock, valued at approximately $3,482,123. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 6,115 shares of company stock worth $154,684. Company insiders own 6.80% of the company's stock.

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).