Wells Fargo & Company MN Sells 133,752 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Wells Fargo & Company MN reduced its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 96.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,616 shares of the company’s stock after selling 133,752 shares during the quarter. Wells Fargo & Company MN’s holdings in Apellis Pharmaceuticals were worth $179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in APLS. EverSource Wealth Advisors LLC increased its stake in Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares during the last quarter. Signaturefd LLC increased its stake in shares of Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after purchasing an additional 918 shares during the last quarter. US Bancorp DE raised its holdings in shares of Apellis Pharmaceuticals by 70.0% during the 4th quarter. US Bancorp DE now owns 3,223 shares of the company’s stock worth $103,000 after buying an additional 1,327 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth $216,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $230,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APLS. Robert W. Baird reduced their price target on shares of Apellis Pharmaceuticals from $55.00 to $47.00 and set an “outperform” rating on the stock in a research note on Thursday. Scotiabank dropped their price objective on shares of Apellis Pharmaceuticals from $28.00 to $20.00 and set a “sector perform” rating for the company in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $57.00 target price on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Apellis Pharmaceuticals from $30.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Cantor Fitzgerald began coverage on Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They set an “overweight” rating and a $44.00 target price for the company. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.37.

Apellis Pharmaceuticals Trading Down 2.9 %

NASDAQ:APLS opened at $17.30 on Friday. The firm has a fifty day simple moving average of $21.31 and a two-hundred day simple moving average of $27.12. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.65 and a 12 month high of $43.99. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -8.52 and a beta of 0.73. 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:APLS) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.38). The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted ($0.54) earnings per share. Analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other news, General Counsel David O. Watson sold 5,569 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total transaction of $139,781.90. Following the completion of the sale, the general counsel now directly owns 138,730 shares of the company’s stock, valued at $3,482,123. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 6,115 shares of company stock valued at $154,684. 6.50% of the stock is owned by company 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).