Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 108.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,159 shares of the company’s stock after purchasing an additional 36,565 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Apellis Pharmaceuticals worth $1,534,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Boxer Capital Management LLC acquired a new stake in shares of Apellis Pharmaceuticals in the 4th quarter valued at about $45,504,000. National Bank of Canada FI lifted its stake in 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 valued at $44,214,000 after buying an additional 1,385,080 shares during the last quarter. Royal Bank of Canada lifted its stake in Apellis Pharmaceuticals by 969.6% in the fourth quarter. Royal Bank of Canada now owns 1,518,827 shares of the company’s stock valued at $48,465,000 after buying an additional 1,376,832 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at approximately $41,014,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Apellis Pharmaceuticals during the fourth quarter worth approximately $40,461,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS opened at $17.31 on Tuesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -9.67 and a beta of 0.68. The company has a debt-to-equity ratio of 2.76, a current ratio of 4.08 and a quick ratio of 3.62. The business’s 50 day simple moving average is $18.12 and its 200-day simple moving average is $23.90. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.10 and a 12 month high of $42.47.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. Apellis Pharmaceuticals had a negative return on equity of 99.19% and a negative net margin of 28.83%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.54) earnings per share. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 5,000 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $18.77, for a total value of $93,850.00. Following the sale, the general counsel directly owned 133,730 shares in the company, valued at $2,510,112.10. The trade was a 3.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APLS. Wells Fargo & Company upped their price target on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Cantor Fitzgerald initiated coverage on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They issued an “overweight” rating and a $44.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Bank of America downgraded shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $23.00 in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $40.05.

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).