Cinctive Capital Management LP Purchases New Shares in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Cinctive Capital Management LP acquired a new stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 86,991 shares of the company's stock, valued at approximately $2,776,000. Cinctive Capital Management LP owned 0.07% of Apellis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock valued at $25,000 after acquiring an additional 758 shares in the last quarter. Signaturefd LLC increased its position in shares of Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock worth $37,000 after purchasing an additional 918 shares during the last quarter. US Bancorp DE raised its stake in Apellis Pharmaceuticals by 70.0% in the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock valued at $103,000 after purchasing an additional 1,327 shares in the last quarter. M&T Bank Corp bought a new stake in Apellis Pharmaceuticals during the fourth quarter valued at approximately $216,000. Finally, XTX Topco Ltd purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $206,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Trading Down 2.0 %

APLS traded down $0.39 during trading on Tuesday, hitting $19.41. 495,154 shares of the stock traded hands, compared to its average volume of 2,094,181. The firm has a market capitalization of $2.44 billion, a P/E ratio of -9.56 and a beta of 0.85. Apellis Pharmaceuticals, Inc. has a 12-month low of $18.21 and a 12-month high of $57.85. 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 firm has a 50-day moving average of $26.02 and a 200 day moving average of $28.84.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. During the same period in the prior year, the business posted ($0.73) earnings per share. Apellis Pharmaceuticals's revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APLS shares. HC Wainwright restated a "buy" rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Royal Bank of Canada lowered their price target on 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. Wedbush dropped their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, Scotiabank boosted their target price on Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.59.

Insider Transactions at Apellis Pharmaceuticals

In related news, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $33,351.28. Following the sale, the chief accounting officer now owns 48,138 shares in the company, valued at $1,464,839.34. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cedric Francois sold 13,551 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 $412,356.93. Following the transaction, the chief executive officer now directly owns 418,519 shares in the company, valued at approximately $12,735,533.17. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,238 shares of company stock worth $1,857,510. 6.80% of the stock is currently owned by insiders.

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).