Edgestream Partners L.P. Purchases 38,541 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Edgestream Partners L.P. lifted its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 240.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,572 shares of the company’s stock after purchasing an additional 38,541 shares during the quarter. Edgestream Partners L.P.’s holdings in Apellis Pharmaceuticals were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of APLS. Norges Bank acquired a new position in Apellis Pharmaceuticals in the fourth quarter worth about $56,640,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Apellis Pharmaceuticals by 38.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after buying an additional 677,098 shares in the last quarter. Iron Triangle Partners LP bought a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $32,329,000. Fiera Capital Corp boosted its stake in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after buying an additional 452,753 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. grew its position in Apellis Pharmaceuticals by 44.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock valued at $52,986,000 after acquiring an additional 271,122 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Wells Fargo & Company reduced their price target on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. UBS Group dropped their price objective on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $71.67.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock opened at $36.73 on Friday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -10.62 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a 12 month low of $33.49 and a 12 month high of $73.80. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average price of $38.01 and a 200 day moving average price of $44.00.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same period in the previous year, the firm posted ($1.02) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 110.2% compared to the same quarter last year. Research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.29 EPS for the current year.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is currently owned by company insiders.

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).