Braidwell LP Sells 531,300 Shares of Apellis Pharmaceuticals, Inc. $APLS

Braidwell LP trimmed its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 32.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,121,034 shares of the company’s stock after selling 531,300 shares during the quarter. Braidwell LP owned 0.89% of Apellis Pharmaceuticals worth $19,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in APLS. Corton Capital Inc. bought a new position in Apellis Pharmaceuticals in the 2nd quarter worth $364,000. Woodline Partners LP increased its position in Apellis Pharmaceuticals by 15.5% during the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Apellis Pharmaceuticals by 43.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock worth $1,838,000 after acquiring an additional 30,507 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Apellis Pharmaceuticals by 91.9% in the second quarter. Schroder Investment Management Group now owns 485,615 shares of the company’s stock worth $8,406,000 after acquiring an additional 232,506 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Apellis Pharmaceuticals in the second quarter worth $40,977,000. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company started coverage on Apellis Pharmaceuticals in a report on Wednesday, October 15th. They set an “overweight” rating and a $32.00 price target on the stock. HC Wainwright dropped their price objective on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, TD Cowen dropped their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.06.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $25.23 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of 81.39 and a beta of 0.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54. The stock’s fifty day moving average is $23.06 and its 200 day moving average is $22.34. Apellis Pharmaceuticals, Inc. has a one year low of $16.10 and a one year high of $35.71.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a return on equity of 18.94% and a net margin of 4.43%.The business had revenue of $458.58 million during the quarter, compared to analysts’ expectations of $364.58 million. During the same quarter in the prior year, the business posted ($0.46) earnings per share. The business’s quarterly revenue was up 133.0% on a year-over-year basis. Sell-side analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 31,092 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $23.72, for a total transaction of $737,502.24. Following the sale, the director directly owned 3,837 shares in the company, valued at $91,013.64. This trade represents a 89.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of Apellis Pharmaceuticals stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00. Following the transaction, the chief financial officer owned 110,936 shares in the company, valued at approximately $3,109,536.08. This trade represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 87,373 shares of company stock valued at $2,084,036 over the last three months. Corporate insiders own 6.50% of the company’s stock.

About Apellis Pharmaceuticals

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).