Apellis Pharmaceuticals Inc (NASDAQ:APLS) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 6,670,000 shares, a growth of 22.4% from the January 15th total of 5,450,000 shares. Currently, 12.6% of the shares of the company are short sold. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is presently 4.9 days.
In other news, CEO Cedric Francois sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.82, for a total transaction of $139,100.00. 10.60% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of APLS. Invesco Ltd. purchased a new position in Apellis Pharmaceuticals in the 2nd quarter valued at about $1,033,000. Bank of America Corp DE boosted its holdings in Apellis Pharmaceuticals by 4.5% during the second quarter. Bank of America Corp DE now owns 201,270 shares of the company’s stock worth $5,100,000 after buying an additional 8,643 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Apellis Pharmaceuticals during the second quarter worth approximately $353,000. Nuveen Asset Management LLC bought a new stake in Apellis Pharmaceuticals during the second quarter worth approximately $4,361,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Apellis Pharmaceuticals by 160.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock worth $33,000 after buying an additional 800 shares in the last quarter. 54.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on APLS shares. Robert W. Baird reissued an “overweight” rating and set a $70.00 price target (up previously from $45.00) on shares of Apellis Pharmaceuticals in a research note on Tuesday, January 7th. Cowen reissued a “buy” rating and set a $40.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, January 7th. Citigroup boosted their price target on Apellis Pharmaceuticals from to in a research note on Tuesday, January 7th. Svb Leerink started coverage on Apellis Pharmaceuticals in a research note on Tuesday, January 7th. They set a “market perform” rating and a $30.00 price target on the stock. Finally, Bank of America started coverage on Apellis Pharmaceuticals in a research note on Thursday, December 19th. They set a “buy” rating and a $36.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Apellis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $46.09.
APLS stock traded up $0.54 on Thursday, reaching $41.99. The company had a trading volume of 4,609 shares, compared to its average volume of 2,097,845. Apellis Pharmaceuticals has a 1 year low of $13.04 and a 1 year high of $45.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.12 and a current ratio of 10.12. The company’s fifty day moving average is $38.31 and its 200 day moving average is $30.35. The company has a market cap of $3.25 billion, a P/E ratio of -11.16 and a beta of 0.60.
About Apellis Pharmaceuticals
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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