Arizona State Retirement System Buys 2,473 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Arizona State Retirement System grew its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,013 shares of the company’s stock after acquiring an additional 2,473 shares during the period. Arizona State Retirement System’s holdings in Apellis Pharmaceuticals were worth $844,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals in the first quarter worth $89,000. nVerses Capital LLC increased its stake in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. CWM LLC boosted its position in shares of Apellis Pharmaceuticals by 299.9% during the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after purchasing an additional 3,113 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Apellis Pharmaceuticals in the fourth quarter worth approximately $205,000. 96.29% of the stock is owned by institutional investors.

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock opened at $37.62 on Friday. The firm has a market capitalization of $4.58 billion, a P/E ratio of -10.87 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a one year low of $33.49 and a one year high of $73.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The business has a fifty day moving average price of $38.14 and a 200-day moving average price of $44.80.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on APLS. Robert W. Baird boosted their price target on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Piper Sandler began coverage on shares of Apellis Pharmaceuticals in a report on Friday, May 31st. They set a “neutral” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Wedbush lifted their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $39.24, for a total value of $1,451,880.00. Following the sale, the director now owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.80% of the company’s stock.

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).