Short Interest in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Rises By 11.5%

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 23,180,000 shares, an increase of 11.5% from the October 31st total of 20,790,000 shares. Based on an average trading volume of 3,010,000 shares, the short-interest ratio is currently 7.7 days.

Apellis Pharmaceuticals Price Performance

APLS stock opened at $34.63 on Wednesday. The company has a market capitalization of $4.31 billion, a P/E ratio of -17.06 and a beta of 0.94. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The business has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $35.15. 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 (NASDAQ:APLS) last announced its quarterly 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 return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter last year, the company posted ($1.17) EPS. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. Research analysts expect that Apellis Pharmaceuticals will post -1.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APLS has been the subject of several research reports. UBS Group dropped their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 9th. William Blair initiated coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company. Wedbush lifted their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. HC Wainwright decreased their target price on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Mizuho dropped their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 27.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. HighVista Strategies LLC increased its position in shares of Apellis Pharmaceuticals by 4.1% during the 2nd quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after purchasing an additional 300 shares during the last quarter. Amalgamated Bank increased its holdings in Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after buying an additional 359 shares during the last quarter. Simplicity Wealth LLC raised its position in Apellis Pharmaceuticals by 0.6% in the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock worth $3,021,000 after acquiring an additional 499 shares during the period. KBC Group NV boosted its stake 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 acquiring an additional 679 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after purchasing an additional 781 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

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).