Parallax Volatility Advisers L.P. Sells 106,610 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Parallax Volatility Advisers L.P. cut its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) by 58.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,153 shares of the company’s stock after selling 106,610 shares during the period. Parallax Volatility Advisers L.P. owned 0.07% of Apellis Pharmaceuticals worth $5,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APLS. Lord Abbett & CO. LLC acquired a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $64,648,000. Vanguard Group Inc. boosted its stake in Apellis Pharmaceuticals by 8.2% in the first quarter. Vanguard Group Inc. now owns 8,569,170 shares of the company’s stock valued at $435,400,000 after acquiring an additional 652,071 shares in the last quarter. State Street Corp raised its holdings in shares of Apellis Pharmaceuticals by 20.3% in the second quarter. State Street Corp now owns 3,496,925 shares of the company’s stock worth $158,131,000 after buying an additional 590,469 shares during the last quarter. Cormorant Asset Management LP raised its holdings in shares of Apellis Pharmaceuticals by 55.6% in the third quarter. Cormorant Asset Management LP now owns 1,478,000 shares of the company’s stock worth $100,947,000 after buying an additional 528,000 shares during the last quarter. Finally, Farallon Capital Management LLC purchased a new position in shares of Apellis Pharmaceuticals in the third quarter worth $32,647,000. 87.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James raised their price target on shares of Apellis Pharmaceuticals from $123.00 to $139.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 22nd. Needham & Company LLC raised their price target on shares of Apellis Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Robert W. Baird raised their price target on shares of Apellis Pharmaceuticals from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. HC Wainwright raised their price target on shares of Apellis Pharmaceuticals from $75.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Finally, Wells Fargo & Company cut shares of Apellis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $58.00 in a report on Monday, January 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, insider Adam J. Townsend sold 5,000 shares of Apellis Pharmaceuticals stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $50.70, for a total value of $253,500.00. Following the sale, the insider now owns 42,907 shares in the company, valued at $2,175,384.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Federico Grossi sold 2,500 shares of Apellis Pharmaceuticals stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $48.79, for a total value of $121,975.00. Following the sale, the insider now owns 94,884 shares in the company, valued at $4,629,390.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam J. Townsend sold 5,000 shares of Apellis Pharmaceuticals stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $50.70, for a total transaction of $253,500.00. Following the completion of the sale, the insider now owns 42,907 shares in the company, valued at approximately $2,175,384.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,934 shares of company stock valued at $4,497,717. Corporate insiders own 8.00% of the company’s stock.

Apellis Pharmaceuticals Stock Down 1.0 %

APLS opened at $64.89 on Friday. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $33.32 and a fifty-two week high of $70.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.78 and a current ratio of 4.29. The company has a fifty day moving average of $56.66 and a two-hundred day moving average of $55.93. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -10.59 and a beta of 1.19.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $24.44 million. The firm’s revenue for the quarter was down 62.4% compared to the same quarter last year. On average, research analysts expect that Apellis Pharmaceuticals, Inc. will post -5.12 earnings per share for the current year.

Apellis Pharmaceuticals Company Profile

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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.