Victory Capital Management Inc. Has $11.88 Million Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. reduced its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,906 shares of the company's stock after selling 49,960 shares during the quarter. Victory Capital Management Inc. owned about 0.34% of Apellis Pharmaceuticals worth $11,879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in APLS. Sei Investments Co. grew its stake in Apellis Pharmaceuticals by 57.4% during the 1st quarter. Sei Investments Co. now owns 39,864 shares of the company's stock worth $2,343,000 after buying an additional 14,531 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Apellis Pharmaceuticals by 1,300.8% in the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company's stock worth $211,000 after purchasing an additional 3,330 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Apellis Pharmaceuticals by 11.6% in the first quarter. ProShare Advisors LLC now owns 8,452 shares of the company's stock worth $497,000 after purchasing an additional 881 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Apellis Pharmaceuticals by 107.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 16,677 shares of the company's stock worth $981,000 after purchasing an additional 8,647 shares in the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of Apellis Pharmaceuticals in the first quarter worth $588,000. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APLS. Wells Fargo & Company cut their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group restated a "buy" rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Needham & Company LLC cut their price objective 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 cut their price objective on Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Finally, Mizuho cut their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.06.

Apellis Pharmaceuticals Stock Down 5.2 %

Apellis Pharmaceuticals stock opened at $27.49 on Thursday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -13.54 and a beta of 0.87. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The firm has a fifty day moving average price of $29.45 and a two-hundred day moving average price of $35.90.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm's revenue was up 78.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.17) EPS. As a group, analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $3,623,000. This represents a 27.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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).