Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Short Interest Down 5.9% in November

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 21,810,000 shares, a decrease of 5.9% from the November 15th total of 23,180,000 shares. Based on an average daily volume of 3,240,000 shares, the days-to-cover ratio is presently 6.7 days.

Analysts Set New Price Targets

A number of research firms have issued reports on APLS. Needham & Company LLC reduced their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Scotiabank dropped their target price on Apellis Pharmaceuticals from $35.00 to $30.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Robert W. Baird lowered their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. HC Wainwright reduced their target price on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Bank of America decreased 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.94.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS traded up $0.47 during midday trading on Monday, reaching $33.66. The company had a trading volume of 5,345,241 shares, compared to its average volume of 1,995,944. 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 has a 1 year low of $24.34 and a 1 year high of $73.80. The stock has a market cap of $4.19 billion, a P/E ratio of -16.35 and a beta of 0.94. The business's 50-day simple moving average is $29.65 and its 200 day simple moving average is $34.72.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The business had revenue of $196.83 million for the quarter, compared to analysts' expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company's revenue for the quarter was up 78.3% on a year-over-year basis. During the same period last year, the business earned ($1.17) EPS. On average, analysts forecast that Apellis Pharmaceuticals will post -1.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Braidwell LP grew its position in shares of Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company's stock valued at $90,130,000 after acquiring an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Apellis Pharmaceuticals by 191.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company's stock valued at $61,845,000 after purchasing an additional 1,409,707 shares in the last quarter. Geode Capital Management LLC lifted its stake in Apellis Pharmaceuticals by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company's stock valued at $52,229,000 after buying an additional 22,609 shares in the last quarter. Fiera Capital Corp increased its stake in Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock worth $53,750,000 after buying an additional 452,753 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Apellis Pharmaceuticals by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company's stock worth $27,581,000 after acquiring an additional 9,328 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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).