Jennison Associates LLC Raises Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Jennison Associates LLC boosted its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 51.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,760,404 shares of the company's stock after purchasing an additional 939,289 shares during the quarter. Jennison Associates LLC owned about 2.22% of Apellis Pharmaceuticals worth $88,084,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Wolverine Asset Management LLC acquired a new position in shares of Apellis Pharmaceuticals during the third quarter valued at about $27,000. True Wealth Design LLC acquired a new position in Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Apellis Pharmaceuticals during the 3rd quarter worth approximately $56,000. KBC Group NV raised its stake 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 purchasing an additional 679 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apellis Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company's stock valued at $130,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares in the company, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David O. Watson sold 4,965 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $142,495.50. Following the transaction, the general counsel now directly owns 107,756 shares of the company's stock, valued at $3,092,597.20. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,002 shares of company stock valued at $1,800,119. Company insiders own 6.80% of the company's stock.

Apellis Pharmaceuticals Stock Performance

APLS traded down $0.81 during trading hours on Friday, hitting $29.39. The stock had a trading volume of 880,483 shares, compared to its average volume of 1,870,103. Apellis Pharmaceuticals, Inc. has a 1 year low of $24.34 and a 1 year high of $71.90. The company's fifty day simple moving average is $31.91 and its 200 day simple moving average is $32.60. The stock has a market cap of $3.66 billion, a PE ratio of -14.48 and a beta of 0.96. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

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 business had revenue of $196.83 million during the quarter, compared to analysts' expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. Apellis Pharmaceuticals's revenue for the quarter was up 78.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.17) EPS. Equities analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APLS shares. Wells Fargo & Company decreased their price target on Apellis Pharmaceuticals from $43.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a "strong-buy" rating in a report on Thursday, October 31st. Royal Bank of Canada restated a "sector perform" rating and set a $26.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, January 29th. 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 research note on Wednesday, November 6th. Finally, William Blair started coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an "outperform" rating on the stock. Eight research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $46.71.

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).