Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Stock Position Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,241 shares of the company’s stock after purchasing an additional 2,820 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Apellis Pharmaceuticals were worth $1,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Apellis Pharmaceuticals during the fourth quarter valued at approximately $56,640,000. Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 677,098 shares during the period. Iron Triangle Partners LP acquired a new position in Apellis Pharmaceuticals during the 1st quarter worth $32,329,000. Fiera Capital Corp boosted its holdings in Apellis Pharmaceuticals by 47.7% during the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after acquiring an additional 452,753 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its position in shares of 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 purchasing an additional 271,122 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Trading Down 6.0 %

Shares of NASDAQ APLS opened at $30.75 on Wednesday. Apellis Pharmaceuticals, Inc. has a twelve month low of $30.74 and a twelve month high of $73.80. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -8.89 and a beta of 0.88. 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 company’s fifty day moving average is $37.52 and its 200-day moving average is $43.10.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million for the quarter, compared to analyst estimates of $190.89 million. During the same period in the previous year, the company posted ($1.02) earnings per share. The company’s revenue for the quarter was up 110.2% on a year-over-year basis. Equities research analysts predict 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 the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at $3,623,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APLS shares. JPMorgan Chase & Co. dropped their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday, September 20th. Wells Fargo & Company reduced their price target on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Finally, HC Wainwright reduced their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Apellis Pharmaceuticals Company 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).