Braidwell LP Increases Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Braidwell LP raised its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 410.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,125,183 shares of the company’s stock after purchasing an additional 2,513,383 shares during the quarter. Apellis Pharmaceuticals comprises approximately 2.6% of Braidwell LP’s portfolio, making the stock its 12th largest holding. Braidwell LP owned about 2.51% of Apellis Pharmaceuticals worth $90,130,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals in the third quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in Apellis Pharmaceuticals in the third quarter valued at $56,000. KBC Group NV increased 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 purchasing an additional 679 shares during the period. nVerses Capital LLC increased its stake in shares of Apellis Pharmaceuticals by 300.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after acquiring an additional 2,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Apellis Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after acquiring an additional 781 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APLS has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird dropped their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC dropped their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler dropped their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, UBS Group dropped their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $49.94.

Apellis Pharmaceuticals Trading Up 4.6 %

Shares of NASDAQ APLS opened at $34.14 on Friday. Apellis Pharmaceuticals, Inc. has a 12-month low of $24.34 and a 12-month high of $73.80. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The firm’s 50-day moving average is $28.69 and its two-hundred day moving average is $35.40.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data 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). The firm had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business’s quarterly revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.17) EPS. Research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.72 EPS for the current year.

Insider Buying and Selling

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

About Apellis Pharmaceuticals

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).