Apellis Pharmaceuticals, Inc. $APLS Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 61.1% during the 4th quarter, Holdings Channel reports. The firm owned 30,175 shares of the company’s stock after selling 47,333 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Apellis Pharmaceuticals were worth $722,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Apellis Pharmaceuticals by 46.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock worth $103,452,000 after acquiring an additional 1,898,995 shares during the last quarter. Polar Capital Holdings Plc boosted its position in Apellis Pharmaceuticals by 96.0% during the third quarter. Polar Capital Holdings Plc now owns 2,650,230 shares of the company’s stock valued at $59,975,000 after purchasing an additional 1,298,055 shares during the last quarter. Amundi boosted its position in Apellis Pharmaceuticals by 386.7% during the second quarter. Amundi now owns 1,604,105 shares of the company’s stock valued at $28,585,000 after purchasing an additional 1,274,523 shares during the last quarter. Millennium Management LLC boosted its position in Apellis Pharmaceuticals by 563.7% during the third quarter. Millennium Management LLC now owns 1,343,726 shares of the company’s stock valued at $30,409,000 after purchasing an additional 1,141,274 shares during the last quarter. Finally, Deep Track Capital LP boosted its position in Apellis Pharmaceuticals by 14.3% during the third quarter. Deep Track Capital LP now owns 8,000,382 shares of the company’s stock valued at $181,049,000 after purchasing an additional 1,000,382 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS opened at $40.69 on Thursday. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $40.77. The business has a 50-day moving average of $23.35 and a two-hundred day moving average of $23.30. The stock has a market capitalization of $5.20 billion, a P/E ratio of 313.02 and a beta of -0.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.14 and a quick ratio of 2.70.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.86. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The company had revenue of $199.91 million during the quarter, compared to analysts’ expectations of $199.28 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Apellis Pharmaceuticals from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a “sell” rating and set a $19.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, January 12th. Barclays lifted their price objective on Apellis Pharmaceuticals from $24.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 1st. Robert W. Baird cut Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $41.00 price objective (up from $37.00) on shares of Apellis Pharmaceuticals in a research report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $34.11.

Insiders Place Their Bets

In other news, General Counsel David O. Watson sold 7,832 shares of Apellis Pharmaceuticals stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $170,502.64. Following the transaction, the general counsel directly owned 88,531 shares in the company, valued at approximately $1,927,319.87. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Eugene Sullivan sold 10,287 shares of Apellis Pharmaceuticals stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $223,947.99. Following the completion of the transaction, the chief financial officer owned 93,901 shares in the company, valued at $2,044,224.77. The trade was a 9.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,537 shares of company stock valued at $2,486,082 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Apellis Pharmaceuticals Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.