Insider Selling: Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Insider Sells 363 Shares of Stock

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) insider Mark Jeffrey Delong sold 363 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $28.54, for a total transaction of $10,360.02. Following the completion of the transaction, the insider now directly owns 83,945 shares in the company, valued at $2,395,790.30. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Apellis Pharmaceuticals Trading Down 1.5 %

Shares of APLS stock traded down $0.42 on Wednesday, reaching $28.11. 453,672 shares of the company’s stock were exchanged, compared to its average volume of 1,777,961. The company’s fifty day simple moving average is $31.68 and its 200 day simple moving average is $32.41. The stock has a market capitalization of $3.50 billion, a PE ratio of -13.83 and a beta of 0.96. 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, Inc. has a 52 week low of $24.34 and a 52 week high of $71.90.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Tuesday, December 17th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Scotiabank reduced their price objective on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler decreased their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Apellis Pharmaceuticals in a research report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several large investors have recently modified their holdings of APLS. Braidwell LP lifted its position in shares of Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after purchasing an additional 2,513,383 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares during the period. Cibc World Markets Corp purchased a new position in Apellis Pharmaceuticals during the 4th quarter worth $41,014,000. Norges Bank acquired a new position in Apellis Pharmaceuticals in the 4th quarter valued at about $34,662,000. Finally, Jennison Associates LLC raised its stake in shares of Apellis Pharmaceuticals by 51.6% during the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock worth $88,084,000 after purchasing an additional 939,289 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

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).