Allspring Global Investments Holdings LLC Reduces Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Allspring Global Investments Holdings LLC lessened its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 21.5% during the 4th quarter, Holdings Channel reports. The firm owned 59,275 shares of the company’s stock after selling 16,243 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apellis Pharmaceuticals were worth $3,548,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in APLS. First Horizon Advisors Inc. boosted its stake in shares of Apellis Pharmaceuticals by 69.0% in the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after buying an additional 265 shares during the last quarter. Covestor Ltd boosted its stake in shares of Apellis Pharmaceuticals by 564.2% in the third quarter. Covestor Ltd now owns 797 shares of the company’s stock worth $30,000 after buying an additional 677 shares during the last quarter. Stephens Consulting LLC purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter worth about $38,000. US Bancorp DE boosted its stake in shares of Apellis Pharmaceuticals by 391.2% in the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock worth $56,000 after buying an additional 884 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of Apellis Pharmaceuticals in the second quarter worth about $202,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $54.17, for a total value of $3,743,526.19. Following the completion of the sale, the insider now directly owns 1,115,983 shares in the company, valued at $60,452,799.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Pascal Deschatelets sold 69,107 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at $60,452,799.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 4,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $58.66, for a total value of $234,640.00. Following the transaction, the chief financial officer now owns 93,338 shares in the company, valued at approximately $5,475,207.08. The disclosure for this sale can be found here. Insiders sold 406,651 shares of company stock valued at $25,130,257 over the last quarter. 7.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APLS. HC Wainwright restated a “buy” rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 9th. Mizuho restated a “neutral” rating and issued a $60.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, March 27th. UBS Group upped their price target on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, Oppenheimer upped their price target on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.93.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $47.53 on Friday. The business has a 50 day simple moving average of $59.71 and a two-hundred day simple moving average of $57.04. Apellis Pharmaceuticals, Inc. has a 12 month low of $19.83 and a 12 month high of $94.75. The stock has a market capitalization of $5.73 billion, a P/E ratio of -10.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, meeting analysts’ consensus estimates of ($0.73). Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The business had revenue of $146.38 million during the quarter, compared to analysts’ expectations of $143.34 million. During the same quarter in the prior year, the firm earned ($1.50) earnings per share. The business’s revenue was up 545.9% compared to the same quarter last year. As a group, analysts predict that Apellis Pharmaceuticals, Inc. will post -1.33 EPS for the current fiscal year.

Apellis Pharmaceuticals 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).