Xponance Inc. Cuts Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Xponance Inc. trimmed its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 12,927 shares of the company’s stock after selling 939 shares during the period. Xponance Inc.’s holdings in Apellis Pharmaceuticals were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position 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 valued at $25,000 after purchasing an additional 265 shares during the period. Covestor Ltd raised its position in shares of Apellis Pharmaceuticals by 564.2% in the third quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after purchasing an additional 677 shares during the period. Stephens Consulting LLC bought a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $38,000. China Universal Asset Management Co. Ltd. raised its position in shares of Apellis Pharmaceuticals by 29.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company’s stock valued at $115,000 after purchasing an additional 687 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Apellis Pharmaceuticals by 95.8% in the third quarter. IFP Advisors Inc now owns 3,806 shares of the company’s stock valued at $145,000 after purchasing an additional 1,862 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on APLS shares. Oppenheimer boosted their price target on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $80.00 in a research report on Monday, February 5th. HC Wainwright reissued a “buy” rating and issued a $92.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Mizuho reaffirmed a “neutral” rating and set a $60.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.93.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS opened at $47.93 on Friday. The company’s fifty day moving average price is $58.61 and its 200-day moving average price is $57.37. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -10.70 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a one year low of $19.83 and a one year high of $94.75. 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 issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, hitting analysts’ consensus estimates of ($0.73). The firm had revenue of $146.38 million for the quarter, compared to analyst estimates of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The business’s revenue for the quarter was up 545.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.50) EPS. On average, equities research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, insider Nur Nicholson sold 835 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.14, for a total value of $53,556.90. Following the completion of the sale, the insider now owns 67,507 shares of the company’s stock, valued at approximately $4,329,898.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction on Monday, April 8th. The shares were 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 owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nur Nicholson sold 835 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.14, for a total transaction of $53,556.90. Following the completion of the sale, the insider now directly owns 67,507 shares of the company’s stock, valued at approximately $4,329,898.98. The disclosure for this sale can be found here. Insiders have sold 381,011 shares of company stock valued at $23,463,657 in the last quarter. Insiders own 7.50% of the company’s stock.

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).