Allspring Global Investments Holdings LLC Cuts Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 91.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,522 shares of the company's stock after selling 65,946 shares during the period. Allspring Global Investments Holdings LLC's holdings in Apellis Pharmaceuticals were worth $188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of APLS. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals during the first quarter valued at about $89,000. nVerses Capital LLC increased its holdings in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company's stock worth $107,000 after acquiring an additional 2,100 shares in the last quarter. CWM LLC raised its stake in Apellis Pharmaceuticals by 299.9% during the 2nd quarter. CWM LLC now owns 4,151 shares of the company's stock worth $159,000 after acquiring an additional 3,113 shares during the period. Russell Investments Group Ltd. lifted its holdings in Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company's stock valued at $211,000 after purchasing an additional 3,330 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Apellis Pharmaceuticals in the first quarter worth approximately $266,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company's stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

APLS has been the topic of several recent analyst reports. HC Wainwright decreased their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. William Blair began coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They issued an "outperform" rating on the stock. UBS Group cut their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Evercore ISI raised Apellis Pharmaceuticals to a "strong-buy" rating in a report on Thursday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.41.

Apellis Pharmaceuticals Trading Up 2.1 %

Shares of NASDAQ:APLS traded up $0.58 during trading on Monday, hitting $28.56. The company had a trading volume of 9,301,474 shares, compared to its average volume of 1,729,695. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -10.42 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The company has a fifty day simple moving average of $32.04 and a two-hundred day simple moving average of $37.53. Apellis Pharmaceuticals, Inc. has a one year low of $26.28 and a one year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. During the same period in the previous year, the firm earned ($1.02) earnings per share. Apellis Pharmaceuticals's quarterly revenue was up 110.2% compared to the same quarter last year. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

About Apellis Pharmaceuticals

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).