The Manufacturers Life Insurance Company Trims Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

The Manufacturers Life Insurance Company decreased its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 40.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,135 shares of the company's stock after selling 50,195 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Apellis Pharmaceuticals worth $2,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APLS. Price T Rowe Associates Inc. MD increased its position in Apellis Pharmaceuticals by 38.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company's stock worth $147,277,000 after buying an additional 677,098 shares during the period. Iron Triangle Partners LP purchased a new stake in Apellis Pharmaceuticals in the 1st quarter valued at $32,329,000. Fiera Capital Corp boosted its stake in Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock worth $53,750,000 after purchasing an additional 452,753 shares during the period. Frazier Life Sciences Management L.P. grew its position in Apellis Pharmaceuticals by 44.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company's stock worth $52,986,000 after purchasing an additional 271,122 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in Apellis Pharmaceuticals in the fourth quarter valued at $12,558,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Price Performance

APLS traded down $0.50 on Wednesday, hitting $26.90. 1,400,681 shares of the company were exchanged, compared to its average volume of 1,647,522. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $26.55 and a fifty-two week high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The firm has a market capitalization of $3.26 billion, a P/E ratio of -7.77 and a beta of 0.87. The business's fifty day moving average is $35.29 and its 200 day moving average is $41.00.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.03. The business had revenue of $199.70 million for the quarter, compared to analysts' expectations of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company's revenue was up 110.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.02) EPS. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush increased their target price on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. HC Wainwright lowered their target price on Apellis Pharmaceuticals from $92.00 to $83.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. Mizuho decreased their price target on Apellis Pharmaceuticals from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $70.20.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company's stock, valued at $3,623,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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).