Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,700 shares of the company's stock after selling 10,400 shares during the quarter. Swiss National Bank owned about 0.12% of Apellis Pharmaceuticals worth $4,585,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APLS. EverSource Wealth Advisors LLC raised its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after buying an additional 758 shares during the period. True Wealth Design LLC purchased a new stake in Apellis Pharmaceuticals in the third quarter worth $27,000. US Bancorp DE lifted its position in shares of Apellis Pharmaceuticals by 70.0% during the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock worth $103,000 after purchasing an additional 1,327 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at $206,000. Finally, M&T Bank Corp bought a new position in shares of Apellis Pharmaceuticals in the fourth quarter worth about $216,000. 96.29% of the stock is owned by institutional investors.

Insider Activity at Apellis Pharmaceuticals

In other news, insider Caroline Baumal sold 2,816 shares of the company'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 owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David O. Watson sold 5,569 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the sale, the general counsel now directly owns 138,730 shares in the company, valued at approximately $3,482,123. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,054 shares of company stock worth $1,952,719 over the last three months. Company insiders own 6.80% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $57.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Wedbush dropped their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price objective on Apellis Pharmaceuticals from $26.00 to $25.00 and set a "sector perform" rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Eight 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.53.

Apellis Pharmaceuticals Stock Performance

APLS stock traded down $0.01 during midday trading on Friday, reaching $24.27. The stock had a trading volume of 3,800,445 shares, compared to its average volume of 2,046,881. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The firm has a fifty day simple moving average of $27.15 and a two-hundred day simple moving average of $29.70. The stock has a market cap of $3.05 billion, a PE ratio of -11.96 and a beta of 0.92. Apellis Pharmaceuticals, Inc. has a 52-week low of $23.25 and a 52-week high of $59.91.

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