Fiduciary Trust Co Sells 4,220 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Fiduciary Trust Co decreased its stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 1.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 236,066 shares of the company’s stock after selling 4,220 shares during the period. Fiduciary Trust Co owned 0.19% of Apellis Pharmaceuticals worth $6,808,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in shares of 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 worth $61,845,000 after purchasing an additional 1,409,707 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Apellis Pharmaceuticals by 47.7% during the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after buying an additional 452,753 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Apellis Pharmaceuticals by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company’s stock valued at $27,581,000 after acquiring an additional 9,328 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Apellis Pharmaceuticals by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company’s stock worth $13,242,000 after acquiring an additional 22,273 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after acquiring an additional 190,420 shares during the period. 96.29% of the stock is owned by institutional investors.

Insider Activity

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 27.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wedbush raised their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Mizuho reduced their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, William Blair started coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set an “outperform” rating for the company. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.94.

Apellis Pharmaceuticals Stock 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 firm’s 50-day simple moving average is $28.74 and its 200 day simple moving average is $35.41. 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 company has a market cap of $4.25 billion, a price-to-earnings ratio of -16.82 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) 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 company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the company earned ($1.17) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% compared to the same quarter last year. On average, research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.71 earnings per share 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).