Alliancebernstein L.P. Trims Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Alliancebernstein L.P. lowered its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,340 shares of the company’s stock after selling 9,678 shares during the quarter. Alliancebernstein L.P.’s holdings in Apellis Pharmaceuticals were worth $1,000,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APLS. Xponance Inc. increased its holdings in shares of Apellis Pharmaceuticals by 5.6% in the fourth quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $449,000 after purchasing an additional 749 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after purchasing an additional 758 shares in the last quarter. Signaturefd LLC lifted its position in Apellis Pharmaceuticals by 357.2% during the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after purchasing an additional 918 shares during the last quarter. US Bancorp DE grew its stake in shares of Apellis Pharmaceuticals by 70.0% in the 4th quarter. US Bancorp DE now owns 3,223 shares of the company’s stock worth $103,000 after buying an additional 1,327 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Apellis Pharmaceuticals by 9.4% during the 4th quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company’s stock valued at $691,000 after buying an additional 1,864 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity at Apellis Pharmaceuticals

In other news, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $33,351.28. Following the sale, the chief accounting officer now owns 48,138 shares in the company, valued at $1,464,839.34. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Eugene Sullivan sold 3,088 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $93,967.84. Following the transaction, the chief financial officer now owns 129,211 shares of the company’s stock, valued at approximately $3,931,890.73. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $1,059,969 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $18.20 on Friday. The business’s 50-day moving average is $23.72 and its two-hundred day moving average is $28.00. The company has a market capitalization of $2.28 billion, a P/E ratio of -8.97 and a beta of 0.85. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $50.98. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $197.92 million. The business’s revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.73) EPS. Research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. The Goldman Sachs Group cut their price target on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Scotiabank raised their price objective on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.59.

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).