Victory Capital Management Inc. Sells 49,960 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. lessened its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,906 shares of the company’s stock after selling 49,960 shares during the quarter. Victory Capital Management Inc. owned about 0.34% of Apellis Pharmaceuticals worth $11,879,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in Apellis Pharmaceuticals during the third quarter worth about $56,000. nVerses Capital LLC increased its position in Apellis Pharmaceuticals by 300.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the last quarter. Russell Investments Group Ltd. increased its position in Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock worth $211,000 after purchasing an additional 3,330 shares during the last quarter. Finally, CWM LLC boosted its stake in Apellis Pharmaceuticals by 299.9% during the second quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after buying an additional 3,113 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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 shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at $3,623,000. This trade represents a 27.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Stock Down 5.2 %

Shares of Apellis Pharmaceuticals stock opened at $27.49 on Thursday. Apellis Pharmaceuticals, Inc. has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a 50 day moving average of $29.45 and a 200 day moving average of $35.90. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $3.42 billion, a P/E ratio of -13.54 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the previous year, the business posted ($1.17) EPS. The firm’s revenue for the quarter was up 78.3% compared to the same quarter last year. As a group, research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on APLS shares. Wedbush increased their target price on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Wells Fargo & Company lowered their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. HC Wainwright lowered their target price on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

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).