Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down – Here’s What Happened

Apellis Pharmaceuticals, Inc. (NASDAQ:APLSGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $33.00, but opened at $30.00. Apellis Pharmaceuticals shares last traded at $29.08, with a volume of 976,508 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Mizuho reduced their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.94.

Check Out Our Latest Stock Report on APLS

Apellis Pharmaceuticals Stock Down 14.7 %

The stock’s fifty day moving average price is $31.88 and its 200 day moving average price is $33.82. The stock has a market cap of $3.50 billion, a P/E ratio of -13.87 and a beta of 0.94. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLSGet Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate 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 for the quarter was up 78.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.17) earnings per share. As a group, research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.72 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new position in shares of Apellis Pharmaceuticals during the third quarter valued at approximately $27,000. True Wealth Design LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in shares of Apellis Pharmaceuticals in the third quarter worth approximately $56,000. KBC Group NV lifted its position in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Apellis Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after purchasing an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

(Get Free Report)

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).

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