Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) General Counsel Sells $65,941.96 in Stock

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) General Counsel David O. Watson sold 2,201 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $29.96, for a total value of $65,941.96. Following the completion of the transaction, the general counsel now directly owns 105,555 shares in the company, valued at $3,162,427.80. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Apellis Pharmaceuticals Stock Up 0.6 %

NASDAQ:APLS traded up $0.19 during midday trading on Tuesday, reaching $30.13. 1,461,289 shares of the stock traded hands, compared to its average volume of 2,274,031. The business has a 50-day moving average of $31.89 and a two-hundred day moving average of $33.31. 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 $24.34 and a 12-month high of $71.90. The stock has a market capitalization of $3.75 billion, a PE ratio of -14.84 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced 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). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The company’s quarterly revenue was up 78.3% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APLS has been the topic of a number of research analyst reports. Mizuho cut their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company reduced their target price 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. Oppenheimer lowered their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Piper Sandler dropped their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup dropped their price target on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at $27,000. True Wealth Design LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $56,000. KBC Group NV boosted its position in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after buying an additional 781 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).