Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Short Interest Update

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 17,060,000 shares, a drop of 5.4% from the January 15th total of 18,040,000 shares. Based on an average daily trading volume, of 2,640,000 shares, the days-to-cover ratio is currently 6.5 days.

Insider Activity

In related news, CFO Timothy Eugene Sullivan sold 2,170 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $62,279.00. Following the transaction, the chief financial officer now directly owns 88,100 shares of the company’s stock, valued at $2,528,470. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO James George Chopas sold 1,096 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now directly owns 48,138 shares in the company, valued at $1,464,839.34. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock worth $1,810,479 over the last three months. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently bought and sold shares of APLS. EverSource Wealth Advisors LLC grew 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 acquiring an additional 758 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Apellis Pharmaceuticals during the third quarter valued at approximately $27,000. True Wealth Design LLC purchased a new position in Apellis Pharmaceuticals during the third quarter valued at approximately $27,000. Signaturefd LLC grew its stake 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 acquiring an additional 918 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Apellis Pharmaceuticals during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a research report on Thursday, February 13th. Citigroup dropped their price target on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Tuesday, December 17th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank lowered their price objective on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Price Performance

APLS opened at $28.18 on Wednesday. The firm has a 50-day moving average price of $31.05 and a 200-day moving average price of $32.03. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -13.88 and a beta of 0.96. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

About Apellis Pharmaceuticals

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).