State Street Corp Has $116.54 Million Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

State Street Corp decreased its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,040,861 shares of the company's stock after selling 105,833 shares during the quarter. State Street Corp owned 3.25% of Apellis Pharmaceuticals worth $116,538,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of APLS. Braidwell LP lifted its holdings in shares of Apellis Pharmaceuticals by 410.8% in the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company's stock worth $90,130,000 after purchasing an additional 2,513,383 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company's stock worth $61,845,000 after buying an additional 1,409,707 shares during the last quarter. Fiera Capital Corp lifted its holdings in Apellis Pharmaceuticals by 47.7% during the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock valued at $53,750,000 after purchasing an additional 452,753 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Apellis Pharmaceuticals by 337.3% in the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company's stock worth $9,177,000 after buying an additional 190,420 shares during the period. Finally, Old West Investment Management LLC purchased a new position in Apellis Pharmaceuticals during the 3rd quarter valued at about $2,953,000. 96.29% of the stock is currently owned by institutional investors.

Apellis Pharmaceuticals Trading Up 1.4 %

Shares of APLS traded up $0.47 during midday trading on Monday, hitting $33.66. The stock had a trading volume of 5,345,241 shares, compared to its average volume of 1,995,944. The business has a 50-day simple moving average of $29.78 and a two-hundred day simple moving average of $34.67. The firm has a market cap of $4.19 billion, a P/E ratio of -16.58 and a beta of 0.94. 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 fifty-two week low of $24.34 and a fifty-two week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. Apellis Pharmaceuticals's quarterly revenue was up 78.3% compared to the same quarter last year. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.72 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on APLS. Piper Sandler dropped their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set an "outperform" rating for the company. Evercore ISI raised shares of Apellis Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, October 31st. Finally, Bank of America lowered their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $49.94.

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).