Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down to $28.20

Apellis Pharmaceuticals Inc (NASDAQ:APLS) gapped down before the market opened on Friday . The stock had previously closed at $28.13, but opened at $28.20. Apellis Pharmaceuticals shares last traded at $26.90, with a volume of 28,916 shares changing hands.

Several equities research analysts have commented on APLS shares. Cowen set a $40.00 price objective on shares of Apellis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 31st. ValuEngine downgraded shares of Apellis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price objective (down from $52.00) on shares of Apellis Pharmaceuticals in a report on Thursday, August 1st. Oppenheimer started coverage on shares of Apellis Pharmaceuticals in a report on Tuesday, July 9th. They issued an “outperform” rating and a $52.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.14.

The stock has a market capitalization of $1.80 billion, a PE ratio of -11.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.67 and a quick ratio of 8.67. The business’s fifty day moving average price is $28.71 and its 200-day moving average price is $22.72.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.18). On average, analysts expect that Apellis Pharmaceuticals Inc will post -4 earnings per share for the current fiscal year.

In other news, CEO Cedric Francois sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $26.80, for a total value of $268,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Eugene Sullivan purchased 11,699 shares of the stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $29.71 per share, for a total transaction of $347,577.29. Following the completion of the acquisition, the chief financial officer now owns 11,699 shares of the company’s stock, valued at approximately $347,577.29. The disclosure for this purchase can be found here. Corporate insiders own 10.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in APLS. Bank of America Corp DE lifted its holdings in shares of Apellis Pharmaceuticals by 146.0% in the fourth quarter. Bank of America Corp DE now owns 17,533 shares of the company’s stock worth $231,000 after buying an additional 10,407 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Apellis Pharmaceuticals by 250,533.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,519 shares of the company’s stock valued at $147,000 after purchasing an additional 7,516 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Apellis Pharmaceuticals in the first quarter valued at approximately $112,000. Victory Capital Management Inc. raised its stake in Apellis Pharmaceuticals by 21.7% in the first quarter. Victory Capital Management Inc. now owns 1,688,663 shares of the company’s stock valued at $32,929,000 after purchasing an additional 300,900 shares in the last quarter. Finally, Regent Investment Management LLC purchased a new stake in Apellis Pharmaceuticals in the second quarter valued at approximately $591,000. 63.51% of the stock is currently owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Company Profile (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.

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