Bleakley Financial Group LLC Lowers Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Bleakley Financial Group LLC trimmed its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 6.9% in the 4th quarter, HoldingsChannel reports. The fund owned 73,505 shares of the company’s stock after selling 5,451 shares during the quarter. Bleakley Financial Group LLC’s holdings in Apellis Pharmaceuticals were worth $2,346,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APLS. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth $27,000. True Wealth Design LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth $56,000. KBC Group NV boosted its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after buying an additional 679 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 781 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APLS. Robert W. Baird lowered their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Morgan Stanley assumed coverage on Apellis Pharmaceuticals in a research report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target for the company. Piper Sandler decreased 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. Oppenheimer decreased their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $30.20 on Friday. The stock has a market capitalization of $3.76 billion, a PE ratio of -14.88 and a beta of 0.96. Apellis Pharmaceuticals, Inc. has a 52-week low of $24.34 and a 52-week high of $71.90. The stock’s 50-day moving average price is $31.99 and its 200 day moving average price is $32.62. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly 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). The company had revenue of $196.83 million during the quarter, compared to analyst estimates 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 revenue was up 78.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS. As a group, equities research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 4,965 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total value of $142,495.50. Following the sale, the general counsel now owns 107,756 shares of the company’s stock, valued at approximately $3,092,597.20. The trade was a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,002 shares of company stock worth $1,800,119 in the last quarter. Company insiders own 6.80% of the company’s stock.

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).