Insider Selling: Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) CFO Sells 3,088 Shares of Stock

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) CFO Timothy Eugene Sullivan sold 3,088 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $93,967.84. Following the transaction, the chief financial officer now owns 129,211 shares of the company’s stock, valued at $3,931,890.73. This represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Timothy Eugene Sullivan also recently made the following trade(s):

• On Friday, January 17th, Timothy Eugene Sullivan sold 1,730 shares of Apellis Pharmaceuticals stock. The shares were sold at an average price of $29.96, for a total value of $51,830.80.
• On Monday, January 13th, Timothy Eugene Sullivan sold 2,170 shares of Apellis Pharmaceuticals stock. The stock was sold at an average price of $28.70, for a total value of $62,279.00.

Apellis Pharmaceuticals Stock Up 1.2 %

Shares of APLS traded up $0.37 during trading hours on Thursday, hitting $30.76. The company had a trading volume of 1,345,028 shares, compared to its average volume of 2,139,207. The company has a market capitalization of $3.83 billion, a PE ratio of -15.15 and a beta of 0.94. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals, Inc. has a one year low of $24.34 and a one year high of $71.90. The company’s fifty day moving average price is $31.95 and its two-hundred day moving average price is $33.25.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results 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). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The company’s quarterly revenue was up 78.3% on a year-over-year basis. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APLS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Apellis Pharmaceuticals in a report on Tuesday. Piper Sandler dropped their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Scotiabank dropped their target price on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.71.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APLS. Braidwell LP increased its position in Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock valued at $90,130,000 after buying an additional 2,513,383 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Apellis Pharmaceuticals by 191.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after buying an additional 1,409,707 shares in the last quarter. JPMorgan Chase & Co. increased its position in Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after buying an additional 735,160 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in Apellis Pharmaceuticals during the 3rd quarter valued at about $6,226,000. Finally, AQR Capital Management LLC grew its stake in Apellis Pharmaceuticals by 337.3% during the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after purchasing an additional 190,420 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Company Profile

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).