Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,416 shares of the company’s stock after selling 9,323 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Apellis Pharmaceuticals worth $10,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of APLS. Legacy Capital Group California Inc. purchased a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at approximately $230,000. Handelsbanken Fonder AB increased its holdings in Apellis Pharmaceuticals by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 30,600 shares of the company’s stock worth $976,000 after acquiring an additional 3,000 shares in the last quarter. Ieq Capital LLC increased its holdings in Apellis Pharmaceuticals by 1,425.5% in the 4th quarter. Ieq Capital LLC now owns 126,710 shares of the company’s stock worth $4,043,000 after acquiring an additional 118,404 shares in the last quarter. Banque Pictet & Cie SA raised its position in Apellis Pharmaceuticals by 31.7% during the fourth quarter. Banque Pictet & Cie SA now owns 97,299 shares of the company’s stock worth $3,105,000 after acquiring an additional 23,416 shares during the period. Finally, Savant Capital LLC lifted its holdings in Apellis Pharmaceuticals by 42.5% during the fourth quarter. Savant Capital LLC now owns 31,525 shares of the company’s stock valued at $1,006,000 after purchasing an additional 9,407 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $24.37 on Friday. Apellis Pharmaceuticals, Inc. has a 52 week low of $23.77 and a 52 week high of $59.91. The stock’s fifty day moving average is $28.50 and its two-hundred day moving average is $30.73. The company has a market capitalization of $3.06 billion, a P/E ratio of -12.00 and a beta of 0.92. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

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

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 stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the completion of the transaction, the chief financial officer now directly owns 88,100 shares in the company, valued at $2,528,470. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nur Nicholson sold 2,145 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $29.96, for a total value of $64,264.20. Following the completion of the transaction, the insider now directly owns 52,011 shares of the company’s stock, valued at approximately $1,558,249.56. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,934 shares of company stock valued at $1,950,261. Company insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

APLS has been the subject of a number of research reports. Morgan Stanley assumed coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group decreased their target price 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. Wedbush dropped 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. Finally, HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $45.53.

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).