Raymond James Financial Inc. Buys Shares of 49,015 Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Raymond James Financial Inc. purchased a new stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 49,015 shares of the company's stock, valued at approximately $1,564,000.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company's stock valued at $112,036,000 after buying an additional 735,160 shares during the last quarter. Jennison Associates LLC grew its position in shares of Apellis Pharmaceuticals by 51.6% in the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company's stock valued at $88,084,000 after purchasing an additional 939,289 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Apellis Pharmaceuticals by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company's stock valued at $52,229,000 after purchasing an additional 22,609 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Apellis Pharmaceuticals by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 996,748 shares of the company's stock worth $31,806,000 after purchasing an additional 40,386 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 36.5% during the 4th quarter. Victory Capital Management Inc. now owns 562,269 shares of the company's stock worth $17,942,000 after purchasing an additional 150,363 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Remove Ads

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock traded down $2.55 during trading hours on Friday, hitting $19.97. 3,491,368 shares of the stock were exchanged, compared to its average volume of 2,097,181. The stock has a market capitalization of $2.51 billion, a P/E ratio of -9.84 and a beta of 0.85. The business's 50-day moving average is $26.22 and its two-hundred day moving average is $28.96. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals, Inc. has a 12 month low of $19.76 and a 12 month high of $57.85.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue was up 45.2% on a year-over-year basis. During the same period last year, the firm posted ($0.73) EPS. Equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APLS has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Royal Bank of Canada dropped their target price on shares of 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 cut their target price on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Eight equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.59.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 4,965 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $28.70, for a total value of $142,495.50. Following the transaction, the general counsel now owns 107,756 shares in the company, valued at $3,092,597.20. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Caroline Baumal sold 2,816 shares of the business'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 sale, the insider now directly owns 55,560 shares of the company's stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,054 shares of company stock worth $1,952,719 in the last 90 days. Corporate insiders own 6.80% of the company's stock.

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).