Bayforest Capital Ltd Grows Stock Holdings in Apellis Pharmaceuticals, Inc. $APLS

Bayforest Capital Ltd raised its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,639 shares of the company’s stock after acquiring an additional 4,301 shares during the quarter. Bayforest Capital Ltd’s holdings in Apellis Pharmaceuticals were worth $980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Woodline Partners LP increased its position in shares of Apellis Pharmaceuticals by 15.5% during the first quarter. Woodline Partners LP now owns 218,850 shares of the company’s stock valued at $4,786,000 after buying an additional 29,373 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Apellis Pharmaceuticals by 43.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock valued at $1,838,000 after buying an additional 30,507 shares during the period. Cerity Partners LLC increased its position in shares of Apellis Pharmaceuticals by 16.7% during the first quarter. Cerity Partners LLC now owns 54,444 shares of the company’s stock valued at $1,191,000 after buying an additional 7,777 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Apellis Pharmaceuticals by 147.8% during the first quarter. Assenagon Asset Management S.A. now owns 74,325 shares of the company’s stock valued at $1,625,000 after buying an additional 44,332 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Apellis Pharmaceuticals by 1,795.4% during the first quarter. GAMMA Investing LLC now owns 10,235 shares of the company’s stock valued at $224,000 after buying an additional 9,695 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Apellis Pharmaceuticals from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Morgan Stanley upped their price objective on shares of Apellis Pharmaceuticals from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $18.00 in a report on Friday, September 26th. Citigroup upped their price objective on shares of Apellis Pharmaceuticals from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Bank of America upped their price objective on shares of Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.29.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 31,092 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $22.95, for a total transaction of $713,561.40. Following the sale, the director owned 68,908 shares in the company, valued at $1,581,438.60. This represents a 31.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cedric Francois sold 49,963 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $28.39, for a total transaction of $1,418,449.57. Following the transaction, the chief executive officer owned 307,946 shares in the company, valued at approximately $8,742,586.94. This trade represents a 13.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 291,554 shares of company stock worth $7,843,356 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Apellis Pharmaceuticals Trading Down 3.9%

NASDAQ:APLS opened at $24.14 on Tuesday. The company’s 50 day moving average price is $25.37 and its 200-day moving average price is $21.11. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $35.72. The company has a quick ratio of 3.16, a current ratio of 3.77 and a debt-to-equity ratio of 2.90. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -13.26 and a beta of 0.69.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.11. Apellis Pharmaceuticals had a negative net margin of 30.24% and a negative return on equity of 116.09%. The firm had revenue of $171.39 million for the quarter, compared to analysts’ expectations of $187.91 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, equities research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

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).