Jennison Associates LLC Sells 2,843,756 Shares of Apellis Pharmaceuticals, Inc. $APLS

Jennison Associates LLC decreased its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 65.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,504,299 shares of the company’s stock after selling 2,843,756 shares during the quarter. Jennison Associates LLC’s holdings in Apellis Pharmaceuticals were worth $37,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in shares of Apellis Pharmaceuticals by 206.8% in the third quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after acquiring an additional 1,373 shares during the period. Allworth Financial LP grew its holdings in shares of Apellis Pharmaceuticals by 64.1% in the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after acquiring an additional 857 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Apellis Pharmaceuticals by 141.2% in the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the period. Quantbot Technologies LP bought a new stake in Apellis Pharmaceuticals during the third quarter valued at about $64,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Apellis Pharmaceuticals by 338.5% during the second quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock valued at $94,000 after purchasing an additional 4,191 shares during the period. Institutional investors own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APLS. William Blair lowered Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $41.00 price target (up from $37.00) on shares of Apellis Pharmaceuticals in a report on Wednesday, April 1st. Wall Street Zen lowered Apellis Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Saturday, February 28th. Wedbush cut their price target on Apellis Pharmaceuticals from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, HC Wainwright lowered Apellis Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the company from $48.00 to $41.00 in a report on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.89.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $40.96 on Friday. The stock’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $25.22. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $41.00. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 315.10 and a beta of -0.24. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.86. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The business had revenue of $199.91 million for the quarter, compared to the consensus estimate of $199.28 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. As a group, analysts expect that Apellis Pharmaceuticals, Inc. will post -1.23 earnings per share for the current fiscal year.

Apellis Pharmaceuticals Company 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.