Apellis Pharmaceuticals Inc (NASDAQ:APLS) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,921,075 shares, a decline of 31.5% from the August 15th total of 2,804,724 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 204,278 shares, the short-interest ratio is currently 9.4 days.

APLS stock opened at $18.58 on Tuesday. Apellis Pharmaceuticals has a 52 week low of $12.45 and a 52 week high of $32.00. The stock has a market cap of $1.05 billion and a price-to-earnings ratio of -5.06. The company has a debt-to-equity ratio of 0.12, a quick ratio of 26.02 and a current ratio of 26.02.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, July 31st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.14). research analysts expect that Apellis Pharmaceuticals will post -2.2 EPS for the current year.

APLS has been the subject of a number of analyst reports. Cantor Fitzgerald began coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, May 23rd. They set an “overweight” rating for the company. B. Riley upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, July 30th. Cowen began coverage on shares of Apellis Pharmaceuticals in a research report on Tuesday, July 10th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.00.

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 15,776 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $18.78, for a total transaction of $296,273.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Apellis Pharmaceuticals by 150.2% during the 2nd quarter. Victory Capital Management Inc. now owns 932,753 shares of the company’s stock worth $20,520,000 after buying an additional 559,913 shares in the last quarter. Jennison Associates LLC raised its position in shares of Apellis Pharmaceuticals by 50.5% during the 2nd quarter. Jennison Associates LLC now owns 570,464 shares of the company’s stock worth $12,550,000 after buying an additional 191,313 shares in the last quarter. Sofinnova Ventures Inc bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth about $20,159,000. Acuta Capital Partners LLC bought a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter worth about $3,696,000. Finally, Opaleye Management Inc. bought a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter worth about $5,830,000. Institutional investors own 57.54% of the company’s stock.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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