Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 33.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,411 shares of the company's stock after selling 41,217 shares during the quarter. Algert Global LLC owned 0.07% of Apellis Pharmaceuticals worth $2,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APLS. Cerity Partners LLC boosted its position in Apellis Pharmaceuticals by 311.2% during the third quarter. Cerity Partners LLC now owns 31,381 shares of the company's stock valued at $905,000 after acquiring an additional 23,749 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Apellis Pharmaceuticals by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company's stock valued at $27,581,000 after acquiring an additional 9,328 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Apellis Pharmaceuticals during the third quarter valued at $776,000. KBC Group NV boosted its position in shares of 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 in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth about $824,000. Institutional investors own 96.29% of the company's stock.

Analyst Upgrades and Downgrades

APLS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, September 13th. HC Wainwright cut their price objective on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, November 21st. They set an "equal weight" rating and a $31.00 price objective on the stock. Scotiabank cut 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 report on Wednesday, November 6th. Finally, Wedbush increased their price objective on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.94.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This trade represents a 27.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company's stock.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS traded up $0.89 on Wednesday, hitting $33.52. 414,829 shares of the company's stock traded hands, compared to its average volume of 1,930,458. 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 1-year low of $24.34 and a 1-year high of $73.80. The firm's 50-day moving average price is $28.77 and its two-hundred day moving average price is $35.42. The firm has a market capitalization of $4.17 billion, a PE ratio of -16.48 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million for 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% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) earnings per share. As a group, analysts expect that Apellis Pharmaceuticals, Inc. will post -1.71 EPS for the current year.

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).