Fred Alger Management LLC Sells 2,197 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Fred Alger Management LLC decreased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 134,302 shares of the company’s stock after selling 2,197 shares during the period. Fred Alger Management LLC owned approximately 0.12% of Apellis Pharmaceuticals worth $9,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Apellis Pharmaceuticals by 391.2% in the 1st quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after buying an additional 884 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $65,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $70,000. Coston McIsaac & Partners bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $136,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Apellis Pharmaceuticals by 15.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,734 shares of the company’s stock valued at $202,000 after buying an additional 500 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Needham & Company LLC upped their price objective on shares of Apellis Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Bank of America upped their price objective on shares of Apellis Pharmaceuticals from $79.00 to $115.00 in a research report on Tuesday, February 21st. Raymond James increased their target price on Apellis Pharmaceuticals from $123.00 to $139.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 22nd. Robert W. Baird increased their target price on Apellis Pharmaceuticals from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Finally, Stifel Nicolaus increased their target price on Apellis Pharmaceuticals from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Apellis Pharmaceuticals Trading Up 4.0 %

Apellis Pharmaceuticals stock opened at $65.17 on Wednesday. The firm has a 50-day moving average of $56.01 and a 200-day moving average of $55.79. Apellis Pharmaceuticals, Inc. has a one year low of $33.32 and a one year high of $70.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.29 and a quick ratio of 3.78. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -10.63 and a beta of 1.19.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last issued its earnings results on Tuesday, February 21st. The company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($0.05). Apellis Pharmaceuticals had a negative net margin of 864.70% and a negative return on equity of 204.77%. The firm had revenue of $22.70 million during the quarter, compared to analyst estimates of $24.44 million. The company’s quarterly revenue was down 62.4% on a year-over-year basis. On average, equities analysts expect that Apellis Pharmaceuticals, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director Alec Machiels sold 1,250 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $52.35, for a total value of $65,437.50. Following the completion of the sale, the director now directly owns 263,774 shares in the company, valued at approximately $13,808,568.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Alec Machiels sold 1,250 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $52.35, for a total value of $65,437.50. Following the completion of the sale, the director now directly owns 263,774 shares in the company, valued at approximately $13,808,568.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cedric Francois sold 28,200 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $52.06, for a total transaction of $1,468,092.00. Following the completion of the transaction, the chief executive officer now directly owns 965,128 shares in the company, valued at $50,244,563.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,184 shares of company stock worth $4,563,154. Insiders own 8.00% of the company’s stock.

About Apellis Pharmaceuticals

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Apellis Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutic compounds to treat diseases with high unmet needs. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, and Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.