Wells Fargo & Company MN Sells 133,752 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Wells Fargo & Company MN trimmed its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 96.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,616 shares of the company's stock after selling 133,752 shares during the period. Wells Fargo & Company MN's holdings in Apellis Pharmaceuticals were worth $179,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Barclays PLC raised its stake in Apellis Pharmaceuticals by 18.0% during the 3rd quarter. Barclays PLC now owns 255,897 shares of the company's stock worth $7,381,000 after buying an additional 39,019 shares during the period. Eastern Bank lifted its holdings in shares of Apellis Pharmaceuticals by 87.0% in the 4th quarter. Eastern Bank now owns 21,500 shares of the company's stock worth $686,000 after purchasing an additional 10,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Apellis Pharmaceuticals by 135.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,740 shares of the company's stock valued at $949,000 after purchasing an additional 17,115 shares during the period. Merit Financial Group LLC acquired a new stake in Apellis Pharmaceuticals in the 4th quarter valued at $254,000. Finally, KBC Group NV increased its stake in Apellis Pharmaceuticals by 3,862.3% during the 4th quarter. KBC Group NV now owns 104,287 shares of the company's stock valued at $3,328,000 after purchasing an additional 101,655 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reduced 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. Wedbush cut their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price target on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apellis Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $41.37.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock traded down $0.24 during trading hours on Tuesday, hitting $17.28. 2,475,597 shares of the company were exchanged, compared to its average volume of 2,219,459. The firm has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $26.99. 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, Inc. has a 52-week low of $16.65 and a 52-week high of $43.99. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -8.51 and a beta of 0.73.

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

Insider Buying and Selling

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,569 shares of the 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 completion of the transaction, the general counsel now owns 138,730 shares in the company, valued at $3,482,123. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.50% of the stock is currently owned by 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).