Fmr LLC Purchases 665,274 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Posted by Defense World Staff on Sep 3rd, 2023

Fmr LLC boosted its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Free Report) by 45.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,125,437 shares of the company’s stock after acquiring an additional 665,274 shares during the period. Fmr LLC owned 1.91% of Apellis Pharmaceuticals worth $140,194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. ExodusPoint Capital Management LP lifted its holdings in shares of Apellis Pharmaceuticals by 55.9% in the first quarter. ExodusPoint Capital Management LP now owns 23,068 shares of the company’s stock valued at $1,522,000 after purchasing an additional 8,276 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $1,368,000. Rhumbline Advisers lifted its holdings in shares of Apellis Pharmaceuticals by 0.3% in the first quarter. Rhumbline Advisers now owns 130,961 shares of the company’s stock valued at $8,638,000 after purchasing an additional 360 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $355,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $417,000. Institutional investors own 90.43% of the company’s stock.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $43.48 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.11 and a quick ratio of 4.52. The business has a fifty day simple moving average of $49.56 and a two-hundred day simple moving average of $67.96. Apellis Pharmaceuticals, Inc. has a 1 year low of $19.83 and a 1 year high of $94.75. The company has a market capitalization of $5.12 billion, a P/E ratio of -7.46 and a beta of 1.17.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.33. Apellis Pharmaceuticals had a negative return on equity of 212.82% and a negative net margin of 356.02%. The firm had revenue of $95.00 million during the quarter, compared to analyst estimates of $70.38 million. During the same period last year, the company earned ($1.46) earnings per share. The business’s revenue for the quarter was up 482.8% on a year-over-year basis. On average, analysts expect that Apellis Pharmaceuticals, Inc. will post -4.96 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 150,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $41.75, for a total value of $6,262,500.00. Following the completion of the transaction, the chief executive officer now directly owns 424,655 shares of the company’s stock, valued at $17,729,346.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Cedric Francois sold 150,000 shares of Apellis Pharmaceuticals stock in a transaction on Friday, September 1st. The stock was sold at an average price of $41.75, for a total transaction of $6,262,500.00. Following the completion of the sale, the chief executive officer now owns 424,655 shares of the company’s stock, valued at $17,729,346.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pascal Deschatelets sold 12,000 shares of Apellis Pharmaceuticals stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $23.66, for a total value of $283,920.00. Following the sale, the insider now directly owns 1,053,313 shares of the company’s stock, valued at approximately $24,921,385.58. The disclosure for this sale can be found here. Insiders sold 274,119 shares of company stock valued at $16,443,449 over the last three months. Company insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird dropped their target price on Apellis Pharmaceuticals from $115.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday. UBS Group increased their price target on Apellis Pharmaceuticals from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Citigroup increased their price target on Apellis Pharmaceuticals from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Wedbush reaffirmed a “neutral” rating and set a $29.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, August 23rd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.20.

Read Our Latest Analysis on Apellis Pharmaceuticals

Apellis Pharmaceuticals Company Profile

(Free Report)

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, cold agglutinin disease, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy (GA).