Envestnet Asset Management Inc. Lowers Stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Envestnet Asset Management Inc. lowered its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 82.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,951 shares of the company’s stock after selling 127,713 shares during the period. Envestnet Asset Management Inc.’s holdings in Apellis Pharmaceuticals were worth $892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APLS. Vanguard Group Inc. boosted its position in shares of Apellis Pharmaceuticals by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,046,025 shares of the company’s stock worth $320,569,000 after purchasing an additional 230,450 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Apellis Pharmaceuticals by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after buying an additional 735,160 shares during the last quarter. Jennison Associates LLC boosted its holdings in Apellis Pharmaceuticals by 51.6% in the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock worth $88,084,000 after acquiring an additional 939,289 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Apellis Pharmaceuticals by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company’s stock worth $58,699,000 after acquiring an additional 28,426 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Apellis Pharmaceuticals by 266,361.5% in the fourth quarter. National Bank of Canada FI now owns 1,385,600 shares of the company’s stock worth $44,214,000 after acquiring an additional 1,385,080 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, General Counsel David O. Watson sold 5,569 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the transaction, the general counsel now owns 138,730 shares of the company’s stock, valued at $3,482,123. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 6,115 shares of company stock valued at $154,684. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APLS shares. Wedbush lowered their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Royal Bank of Canada decreased their price objective on shares of Apellis Pharmaceuticals from $24.00 to $21.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $45.28.

Apellis Pharmaceuticals Stock Performance

APLS opened at $20.08 on Friday. The company’s 50 day moving average is $21.97 and its 200 day moving average is $27.42. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -9.89 and a beta of 0.85. Apellis Pharmaceuticals, Inc. has a 12-month low of $16.98 and a 12-month high of $49.06.

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

Apellis Pharmaceuticals Company 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).