Raymond James Financial Services Advisors Inc. Sells 2,260 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Raymond James Financial Services Advisors Inc. reduced its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,840 shares of the company’s stock after selling 2,260 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Apellis Pharmaceuticals were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cim Investment Management Inc. increased its holdings in shares of Apellis Pharmaceuticals by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 4,744 shares of the company’s stock valued at $313,000 after acquiring an additional 163 shares during the period. Advisor Group Holdings Inc. grew its stake in Apellis Pharmaceuticals by 6.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,249 shares of the company’s stock valued at $167,000 after purchasing an additional 209 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Apellis Pharmaceuticals by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 43,800 shares of the company’s stock worth $1,666,000 after purchasing an additional 230 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Apellis Pharmaceuticals by 69.0% in the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Apellis Pharmaceuticals by 0.7% during the third quarter. Neuberger Berman Group LLC now owns 44,334 shares of the company’s stock valued at $3,028,000 after buying an additional 290 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APLS has been the topic of a number of analyst reports. Wedbush cut their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday. Raymond James upped their price target on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 11th. Oppenheimer raised their price objective on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $77.93.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $47.51 on Friday. The company has a 50 day simple moving average of $60.13 and a two-hundred day simple moving average of $56.97. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of -10.60 and a beta of 0.88. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48. Apellis Pharmaceuticals, Inc. has a 12 month low of $19.83 and a 12 month high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.73). The company had revenue of $146.38 million during the quarter, compared to the consensus estimate of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The firm’s quarterly revenue was up 545.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.50) earnings per share. As a group, analysts predict that Apellis Pharmaceuticals, Inc. will post -1.33 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 4,184 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $65.00, for a total transaction of $271,960.00. Following the completion of the transaction, the general counsel now directly owns 105,077 shares in the company, valued at $6,830,005. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $54.17, for a total value of $3,743,526.19. Following the completion of the transaction, the insider now owns 1,115,983 shares in the company, valued at $60,452,799.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David O. Watson sold 4,184 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $65.00, for a total value of $271,960.00. Following the sale, the general counsel now owns 105,077 shares in the company, valued at $6,830,005. The disclosure for this sale can be found here. Insiders have sold 406,651 shares of company stock worth $25,130,257 over the last quarter. 7.50% of the stock is currently owned by insiders.

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).