JPMorgan Chase & Co. Raises Stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

JPMorgan Chase & Co. lifted its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 23.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,884,730 shares of the company's stock after buying an additional 735,160 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.12% of Apellis Pharmaceuticals worth $112,036,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APLS. Wolverine Asset Management LLC purchased a new position in Apellis Pharmaceuticals in the 3rd quarter valued at approximately $27,000. True Wealth Design LLC purchased a new position in Apellis Pharmaceuticals in the third quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in Apellis Pharmaceuticals during the 3rd quarter worth $56,000. KBC Group NV increased its holdings in Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company's stock worth $76,000 after purchasing an additional 679 shares during the period. Finally, nVerses Capital LLC raised its position in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company's stock valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Price Performance

Shares of APLS traded up $1.25 on Thursday, reaching $33.16. The stock had a trading volume of 1,219,736 shares, compared to its average volume of 1,990,282. The firm has a 50-day moving average of $31.24 and a 200 day moving average of $34.02. The firm has a market capitalization of $4.12 billion, a PE ratio of -16.33 and a beta of 0.94. Apellis Pharmaceuticals, Inc. has a twelve month low of $24.34 and a twelve month high of $73.80. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $196.83 million during the quarter, compared to analysts' expectations of $200.00 million. During the same quarter in the prior year, the business earned ($1.17) EPS. The company's quarterly revenue was up 78.3% compared to the same quarter last year. Sell-side analysts expect that Apellis Pharmaceuticals, Inc. will post -1.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho cut their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating for the company in a report on Friday, September 13th. HC Wainwright lowered their price target on Apellis Pharmaceuticals from $83.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Bank of America cut their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and set a $36.00 price target for the company. in a research note on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $49.94.

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).