Cibc World Markets Corp Takes $41.01 Million Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Cibc World Markets Corp bought a new position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,285,300 shares of the company's stock, valued at approximately $41,014,000. Cibc World Markets Corp owned approximately 1.03% of Apellis Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of New Jersey Common Pension Fund D increased its position in shares of Apellis Pharmaceuticals by 10.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company's stock worth $1,436,000 after acquiring an additional 4,554 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Apellis Pharmaceuticals in the third quarter worth approximately $824,000. KBC Group NV increased its position in shares of Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company's stock worth $76,000 after acquiring an additional 679 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Apellis Pharmaceuticals in the third quarter worth approximately $776,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company's stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nur Nicholson sold 2,145 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $29.96, for a total transaction of $64,264.20. Following the completion of the sale, the insider now directly owns 52,011 shares of the company's stock, valued at approximately $1,558,249.56. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,117 shares of company stock valued at $1,954,803 in the last ninety days. Company insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Morgan Stanley assumed 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. The Goldman Sachs Group lowered their price objective on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, Wedbush lowered their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $45.53.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS traded down $0.66 during trading hours on Thursday, hitting $24.15. 2,668,491 shares of the stock were exchanged, compared to its average volume of 1,934,259. 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 company's 50 day moving average is $27.78 and its 200 day moving average is $30.27. The firm has a market capitalization of $3.03 billion, a P/E ratio of -11.90 and a beta of 0.92. Apellis Pharmaceuticals, Inc. has a one year low of $23.77 and a one year high of $59.91.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same period in the prior year, the firm earned ($0.73) EPS. Apellis Pharmaceuticals's quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Apellis Pharmaceuticals 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).