Seven Eight Capital LP Buys Shares of 18,442 Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Seven Eight Capital LP purchased a new position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,442 shares of the company’s stock, valued at approximately $1,084,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Apellis Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after buying an additional 85,701 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Apellis Pharmaceuticals by 38.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after acquiring an additional 677,098 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Apellis Pharmaceuticals by 109.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company’s stock worth $128,400,000 after acquiring an additional 1,121,497 shares in the last quarter. Norges Bank acquired a new stake in Apellis Pharmaceuticals during the fourth quarter valued at $56,640,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Apellis Pharmaceuticals by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 904,409 shares of the company’s stock valued at $54,138,000 after purchasing an additional 25,052 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Stock Performance

Shares of Apellis Pharmaceuticals stock traded up $0.51 during midday trading on Wednesday, hitting $37.39. The company had a trading volume of 1,374,770 shares, compared to its average volume of 1,487,388. The stock has a market cap of $4.54 billion, a PE ratio of -10.90 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a 1-year low of $19.83 and a 1-year high of $73.80. The business’s 50 day simple moving average is $39.76 and its two-hundred day simple moving average is $52.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.77 and a quick ratio of 3.02.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. During the same quarter in the previous year, the firm posted ($1.56) EPS. The business’s revenue was up 284.3% compared to the same quarter last year. As a group, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on APLS. HC Wainwright reaffirmed a “buy” rating and set a $92.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, May 28th. Robert W. Baird reiterated an “outperform” rating and issued a $100.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday. Wedbush dropped their price target on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Citigroup reduced their price objective on shares of Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Mizuho lowered their target price on shares of Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 78,907 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the sale, the insider now owns 1,115,983 shares in the company, valued at approximately $47,261,880.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the transaction, the insider now owns 1,115,983 shares in the company, valued at approximately $47,261,880.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the sale, the director now owns 136,998 shares in the company, valued at $5,375,801.52. The disclosure for this sale can be found here. Corporate 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).