Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lowered its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 6.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 73,505 shares of the company’s stock after selling 5,451 shares during the quarter. Bleakley Financial Group LLC owned about 0.06% of Apellis Pharmaceuticals worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after acquiring an additional 735,160 shares during the period. AlphaCentric Advisors LLC acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $1,370,000. GSA Capital Partners LLP acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $824,000. BNP Paribas Financial Markets lifted its holdings in shares of Apellis Pharmaceuticals by 52.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock valued at $4,606,000 after buying an additional 55,282 shares during the period. Finally, Old West Investment Management LLC acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $2,953,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APLS shares. Piper Sandler decreased their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group cut Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Tuesday, December 17th. Morgan Stanley started coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price objective for the company. Citigroup decreased their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Needham & Company LLC cut their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Insider Activity

In related news, insider Nur Nicholson sold 2,145 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $29.96, for a total value of $64,264.20. Following the completion of the transaction, the insider now directly owns 52,011 shares in the company, valued at approximately $1,558,249.56. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 2,170 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total value of $62,279.00. Following the completion of the transaction, the chief financial officer now owns 88,100 shares of the company’s stock, valued at $2,528,470. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,002 shares of company stock worth $1,800,119 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $30.20 on Friday. Apellis Pharmaceuticals, Inc. has a 12 month low of $24.34 and a 12 month high of $71.90. The stock has a 50 day moving average of $31.99 and a two-hundred day moving average of $32.62. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The firm has a market cap of $3.76 billion, a P/E ratio of -14.88 and a beta of 0.96.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 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 up 78.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.17) earnings per share. On average, analysts expect 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).