Apellis Pharmaceuticals (NASDAQ:APLS) Trading Down 10.7%

Apellis Pharmaceuticals Inc (NASDAQ:APLS)’s stock price dropped 10.7% on Thursday . The company traded as low as $26.24 and last traded at $28.20, approximately 2,930,099 shares were traded during mid-day trading. An increase of 582% from the average daily volume of 429,677 shares. The stock had previously closed at $31.57.

APLS has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price target (down from $52.00) on shares of Apellis Pharmaceuticals in a report on Thursday, August 1st. Zacks Investment Research cut shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Cowen set a $40.00 price target on shares of Apellis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 31st. ValuEngine cut shares of Apellis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Oppenheimer initiated coverage on shares of Apellis Pharmaceuticals in a report on Tuesday, July 9th. They issued an “outperform” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $45.14.

The business’s 50 day moving average is $28.75 and its 200 day moving average is $22.66. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -12.05 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.67 and a current ratio of 8.67.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Wednesday, July 31st. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.18). Sell-side analysts predict that Apellis Pharmaceuticals Inc will post -4 EPS for the current year.

In related news, CEO Cedric Francois sold 10,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $26.80, for a total value of $268,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Eugene Sullivan bought 11,699 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of $29.71 per share, with a total value of $347,577.29. Following the completion of the purchase, the chief financial officer now directly owns 11,699 shares in the company, valued at $347,577.29. The disclosure for this purchase can be found here. 10.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of APLS. BlackRock Inc. raised its position in Apellis Pharmaceuticals by 21.0% during the 2nd quarter. BlackRock Inc. now owns 4,502,117 shares of the company’s stock worth $114,085,000 after buying an additional 781,085 shares during the last quarter. Jennison Associates LLC raised its position in Apellis Pharmaceuticals by 57.2% during the 2nd quarter. Jennison Associates LLC now owns 923,244 shares of the company’s stock worth $23,395,000 after buying an additional 335,863 shares during the last quarter. Victory Capital Management Inc. raised its position in Apellis Pharmaceuticals by 21.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,688,663 shares of the company’s stock worth $32,929,000 after buying an additional 300,900 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Apellis Pharmaceuticals during the 2nd quarter worth approximately $4,361,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Apellis Pharmaceuticals during the 2nd quarter worth approximately $3,276,000. 63.51% of the stock is owned by institutional investors.

Apellis Pharmaceuticals Company Profile (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.

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