Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,884,730 shares of the company’s stock after acquiring an additional 735,160 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.12% of Apellis Pharmaceuticals worth $112,036,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of APLS. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at approximately $27,000. True Wealth Design LLC purchased a new position in Apellis Pharmaceuticals in the third quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals in the third quarter worth about $56,000. KBC Group NV boosted its stake in shares of Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after acquiring an additional 679 shares in the last quarter. Finally, nVerses Capital LLC grew its position in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APLS shares. Morgan Stanley assumed coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price target for the company. Mizuho decreased their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, December 17th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Citigroup cut their target price on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.94.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock opened at $31.91 on Thursday. The firm’s 50-day moving average is $31.12 and its two-hundred day moving average is $34.03. The company has a market capitalization of $3.97 billion, a PE ratio of -15.72 and a beta of 0.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals, Inc. has a 12 month low of $24.34 and a 12 month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results 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). The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 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 78.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.17) earnings per share. Analysts predict that Apellis Pharmaceuticals, Inc. will post -1.72 earnings per share for the current year.

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).