CIBC Private Wealth Group LLC Sells 546 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

CIBC Private Wealth Group LLC lessened its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,864 shares of the company’s stock after selling 546 shares during the period. CIBC Private Wealth Group LLC’s holdings in Apellis Pharmaceuticals were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in APLS. Cibc World Markets Corp bought a new position in shares of Apellis Pharmaceuticals in the fourth quarter valued at about $41,014,000. Norges Bank acquired a new position in Apellis Pharmaceuticals in the 4th quarter valued at about $34,662,000. Jennison Associates LLC raised its holdings in Apellis Pharmaceuticals by 51.6% in the 4th quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock valued at $88,084,000 after acquiring an additional 939,289 shares during the period. JPMorgan Chase & Co. lifted its position in Apellis Pharmaceuticals by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after acquiring an additional 735,160 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Apellis Pharmaceuticals by 10,967.2% during the fourth quarter. Amundi now owns 329,582 shares of the company’s stock worth $10,876,000 after acquiring an additional 326,604 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on APLS. The Goldman Sachs Group lowered their target price on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Royal Bank of Canada dropped their target price on Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Monday, March 3rd. Wedbush decreased their price target on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Scotiabank lifted their price objective on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Eight 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 company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $45.59.

Insider Transactions at Apellis Pharmaceuticals

In related news, insider Caroline Baumal sold 2,816 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the sale, the insider now owns 55,560 shares in the company, valued at $1,878,483.60. The trade was a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Cedric Francois sold 6,247 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $179,288.90. Following the completion of the transaction, the chief executive officer now owns 307,415 shares of the company’s stock, valued at $8,822,810.50. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,054 shares of company stock worth $1,952,719. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $19.97 on Friday. Apellis Pharmaceuticals, Inc. has a twelve month low of $19.76 and a twelve month high of $57.85. 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 stock’s 50-day simple moving average is $26.22 and its 200 day simple moving average is $29.05. The firm has a market capitalization of $2.51 billion, a PE ratio of -9.84 and a beta of 0.85.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. The company had revenue of $212.50 million for the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company posted ($0.73) EPS. On average, analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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).