Raymond James & Associates Sells 26,633 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Raymond James & Associates lowered its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 63.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,387 shares of the company’s stock after selling 26,633 shares during the period. Raymond James & Associates’ holdings in Apellis Pharmaceuticals were worth $921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of Apellis Pharmaceuticals by 69.0% in the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock valued at $25,000 after purchasing an additional 265 shares during the period. Covestor Ltd increased its holdings in Apellis Pharmaceuticals by 564.2% during the 3rd quarter. Covestor Ltd now owns 797 shares of the company’s stock worth $30,000 after acquiring an additional 677 shares during the period. Stephens Consulting LLC bought a new stake in Apellis Pharmaceuticals during the 3rd quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. increased its holdings in Apellis Pharmaceuticals by 29.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company’s stock worth $115,000 after acquiring an additional 687 shares during the period. Finally, Whittier Trust Co. bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth approximately $221,000. Institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $47.64 on Tuesday. Apellis Pharmaceuticals, Inc. has a 52-week low of $19.83 and a 52-week high of $94.75. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -10.61 and a beta of 0.88. The company has a fifty day moving average of $59.71 and a 200-day moving average of $57.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share for the quarter, meeting the consensus estimate of ($0.73). The business had revenue of $146.38 million during the quarter, compared to analysts’ expectations of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The firm’s revenue for the quarter was up 545.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.50) EPS. Equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 18,681 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the completion of the sale, the director now owns 173,998 shares of the company’s stock, valued at approximately $9,949,205.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 18,681 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total value of $1,068,179.58. Following the completion of the transaction, the director now directly owns 173,998 shares in the company, valued at approximately $9,949,205.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cedric Francois sold 2,843 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.14, for a total transaction of $182,350.02. Following the completion of the transaction, the chief executive officer now owns 317,624 shares of the company’s stock, valued at $20,372,403.36. The disclosure for this sale can be found here. Insiders sold 381,011 shares of company stock valued at $23,463,657 in the last quarter. Company insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on APLS shares. Robert W. Baird reaffirmed an “outperform” rating and set a $81.00 target price on shares of Apellis Pharmaceuticals in a report on Tuesday, February 6th. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $80.00 in a report on Monday, February 5th. HC Wainwright reaffirmed a “buy” rating and set a $92.00 target price on shares of Apellis Pharmaceuticals in a report on Monday, April 15th. Oppenheimer boosted their price target on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $77.93.

Apellis Pharmaceuticals Company 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).