Short Interest in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Drops By 5.4%

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 17,060,000 shares, a decline of 5.4% from the January 15th total of 18,040,000 shares. Based on an average daily trading volume, of 2,640,000 shares, the days-to-cover ratio is presently 6.5 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler decreased 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. Citigroup decreased their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Evercore ISI raised shares of Apellis Pharmaceuticals to a "strong-buy" rating in a report on Thursday, October 31st. Morgan Stanley started coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 21st. They issued an "equal weight" rating and a $31.00 price target for the company. Finally, Scotiabank dropped their price objective on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS traded down $0.83 on Friday, hitting $27.52. The company's stock had a trading volume of 1,335,382 shares, compared to its average volume of 1,745,814. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -13.56 and a beta of 0.96. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $71.90. The stock's 50-day moving average is $30.61 and its two-hundred day moving average is $31.87.

Insiders Place Their Bets

In related news, CAO James George Chopas sold 1,096 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $33,351.28. Following the completion of the transaction, the chief accounting officer now owns 48,138 shares of the company's stock, valued at approximately $1,464,839.34. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares of the company's stock, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,365 shares of company stock worth $1,810,479 in the last quarter. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after buying an additional 758 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals during the third quarter worth approximately $27,000. True Wealth Design LLC bought a new stake in Apellis Pharmaceuticals during the third quarter worth approximately $27,000. Signaturefd LLC boosted its stake in Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after purchasing an additional 918 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 96.29% of the company's stock.

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).