Apellis Pharmaceuticals (NASDAQ:APLS) Sees Strong Trading Volume

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) saw unusually-high trading volume on Tuesday . Approximately 3,599,040 shares were traded during mid-day trading, an increase of 140% from the previous session’s volume of 1,496,669 shares.The stock last traded at $43.94 and had previously closed at $47.84.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APLS. Oppenheimer lifted their price target on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Mizuho lowered their price objective on shares of Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $92.00 target price on shares of Apellis Pharmaceuticals in a report on Friday. Robert W. Baird restated an “outperform” rating and set a $81.00 price target on shares of Apellis Pharmaceuticals in a research report on Tuesday, February 6th. Finally, UBS Group increased their target price on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.40.

Apellis Pharmaceuticals Stock Performance

The business has a 50 day moving average price of $57.42 and a 200 day moving average price of $57.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50. The stock has a market capitalization of $5.33 billion, a PE ratio of -9.81 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company had revenue of $146.38 million during the quarter, compared to analyst estimates of $143.34 million. During the same period in the previous year, the business posted ($1.50) earnings per share. The firm’s quarterly revenue was up 545.9% compared to the same quarter last year. As a group, equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.34 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 781 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the transaction, the general counsel now owns 103,390 shares in the company, valued at $7,006,740.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel David O. Watson sold 781 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $67.77, for a total transaction of $52,928.37. Following the completion of the sale, the general counsel now owns 103,390 shares in the company, valued at approximately $7,006,740.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director A. Sinclair Dunlop sold 18,681 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares in the company, valued at approximately $9,949,205.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,427 shares of company stock valued at $23,169,639. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in APLS. Sippican Capital Advisors raised its stake in Apellis Pharmaceuticals by 1.1% in the 4th quarter. Sippican Capital Advisors now owns 16,004 shares of the company’s stock valued at $958,000 after purchasing an additional 170 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Apellis Pharmaceuticals by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 43,800 shares of the company’s stock worth $1,666,000 after acquiring an additional 230 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Apellis Pharmaceuticals by 69.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock valued at $25,000 after acquiring an additional 265 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Apellis Pharmaceuticals during the 1st quarter valued at approximately $29,000. Finally, Arizona State Retirement System raised its position in Apellis Pharmaceuticals by 2.4% during the 3rd quarter. Arizona State Retirement System now owns 23,211 shares of the company’s stock worth $883,000 after buying an additional 541 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).