Assenagon Asset Management S.A. Sells 2,114,422 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Assenagon Asset Management S.A. cut its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 98.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,993 shares of the company's stock after selling 2,114,422 shares during the period. Assenagon Asset Management S.A.'s holdings in Apellis Pharmaceuticals were worth $957,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals in the third quarter worth about $27,000. True Wealth Design LLC acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth approximately $56,000. KBC Group NV increased its holdings in shares of Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company's stock valued at $76,000 after acquiring an additional 679 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company's stock valued at $130,000 after acquiring an additional 781 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Apellis Pharmaceuticals Stock Down 2.5 %

APLS traded down $0.76 on Friday, reaching $30.00. 1,530,765 shares of the company traded hands, compared to its average volume of 1,731,861. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -14.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock's 50 day moving average price is $32.08 and its 200-day moving average price is $33.15. Apellis Pharmaceuticals, Inc. has a 52-week low of $24.34 and a 52-week high of $71.90.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The company 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%. The company's revenue was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.17) earnings per share. On average, sell-side analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APLS shares. Scotiabank cut their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Citigroup lowered their price target on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Robert W. Baird cut their price objective on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC decreased their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, 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 note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.71.

Insider Activity

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 3,323 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $101,118.89. Following the completion of the transaction, the general counsel now owns 144,994 shares of the company's stock, valued at $4,412,167.42. The trade was a 2.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cedric Francois sold 13,551 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $412,356.93. Following the sale, the chief executive officer now owns 418,519 shares of the company's stock, valued at $12,735,533.17. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,112 shares of company stock worth $1,655,767. 6.80% of the stock is owned by corporate insiders.

Apellis Pharmaceuticals Company 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).