New York State Common Retirement Fund Reduces Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

New York State Common Retirement Fund lowered its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 87.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 48,837 shares of the company's stock after selling 327,776 shares during the quarter. New York State Common Retirement Fund's holdings in Apellis Pharmaceuticals were worth $1,558,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 buying an additional 781 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $402,000. AlphaCentric Advisors LLC acquired a new stake in shares of Apellis Pharmaceuticals in the third quarter worth $1,370,000. Old West Investment Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth $2,953,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth $56,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS traded down $0.77 during trading hours on Thursday, hitting $25.23. 198,448 shares of the stock were exchanged, compared to its average volume of 1,917,174. The firm's fifty day moving average price is $29.38 and its 200 day moving average price is $31.26. Apellis Pharmaceuticals, Inc. has a 52-week low of $23.77 and a 52-week high of $64.33. The company has a market cap of $3.14 billion, a P/E ratio of -12.43 and a beta of 0.93. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APLS. The Goldman Sachs Group cut their price target on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on Apellis Pharmaceuticals from $43.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC decreased their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Robert W. Baird lowered their price objective on Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Finally, Oppenheimer cut their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.53.

Insider Transactions at Apellis Pharmaceuticals

In other news, CFO Timothy Eugene Sullivan sold 2,170 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the transaction, the chief financial officer now directly owns 88,100 shares in the company, valued at $2,528,470. The trade was a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cedric Francois sold 2,824 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $29.52, for a total value of $83,364.48. Following the completion of the sale, the chief executive officer now directly owns 415,695 shares of the company's stock, valued at approximately $12,271,316.40. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock valued at $1,810,479 over the last 90 days. 6.80% of the stock is currently 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).