Sippican Capital Advisors Sells 9,560 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Sippican Capital Advisors reduced its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 31.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,753 shares of the company's stock after selling 9,560 shares during the quarter. Sippican Capital Advisors' holdings in Apellis Pharmaceuticals were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in shares of Apellis Pharmaceuticals during the second quarter worth approximately $2,350,000. AQR Capital Management LLC grew its holdings in Apellis Pharmaceuticals by 337.3% during the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company's stock worth $9,177,000 after acquiring an additional 190,420 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter valued at $725,000. Duncan Williams Asset Management LLC acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $609,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Apellis Pharmaceuticals by 15.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,600 shares of the company's stock worth $796,000 after purchasing an additional 3,700 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 13,551 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $412,356.93. Following the transaction, the chief executive officer now owns 418,519 shares of the company's stock, valued at $12,735,533.17. The trade was a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,002 shares of company stock valued at $1,800,119. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. William Blair initiated coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an "outperform" rating on the stock. Mizuho reduced their price objective on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Scotiabank lowered their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price target on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Finally, Piper Sandler decreased their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.71.

Apellis Pharmaceuticals Stock Down 1.2 %

NASDAQ:APLS traded down $0.34 on Monday, hitting $28.67. 322,243 shares of the company's stock were exchanged, compared to its average volume of 1,892,999. The firm has a 50-day moving average price of $32.21 and a 200-day moving average price of $32.76. Apellis Pharmaceuticals, Inc. has a 52 week low of $24.34 and a 52 week high of $71.90. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The company has a market cap of $3.57 billion, a P/E ratio of -14.18 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 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 78.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.17) EPS. As a group, analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal 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).