Braidwell LP Sells 1,026,317 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Braidwell LP decreased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 32.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,098,866 shares of the company’s stock after selling 1,026,317 shares during the period. Apellis Pharmaceuticals accounts for about 2.0% of Braidwell LP’s holdings, making the stock its 17th largest holding. Braidwell LP owned about 1.69% of Apellis Pharmaceuticals worth $66,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APLS. Boxer Capital Management LLC purchased a new stake in Apellis Pharmaceuticals during the 4th quarter valued at about $45,504,000. National Bank of Canada FI grew its holdings in shares of Apellis Pharmaceuticals by 266,361.5% during the fourth quarter. National Bank of Canada FI now owns 1,385,600 shares of the company’s stock valued at $44,214,000 after buying an additional 1,385,080 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Apellis Pharmaceuticals during the fourth quarter valued at approximately $41,014,000. Avoro Capital Advisors LLC raised its holdings in Apellis Pharmaceuticals by 10.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company’s stock worth $390,011,000 after acquiring an additional 1,111,111 shares during the last quarter. Finally, Norges Bank purchased a new stake in Apellis Pharmaceuticals during the 4th quarter valued at $34,662,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

APLS has been the subject of several recent analyst reports. Cantor Fitzgerald assumed coverage on Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They issued an “overweight” rating and a $44.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Scotiabank raised their target price on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada lowered their price target on Apellis Pharmaceuticals from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Eight research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.28.

Apellis Pharmaceuticals Trading Down 1.8 %

Shares of APLS stock opened at $19.98 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The stock has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $27.36. The firm has a market capitalization of $2.51 billion, a PE ratio of -9.84 and a beta of 0.73. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.98 and a 52-week high of $49.06.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $212.50 million during the quarter, compared to analysts’ expectations of $197.92 million. During the same quarter last year, the business posted ($0.73) earnings per share. The firm’s revenue was up 45.2% on a year-over-year basis. On average, analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel David O. Watson sold 5,569 shares of the firm’s stock in a transaction on 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 transaction, the general counsel now directly owns 138,730 shares of the company’s stock, valued at approximately $3,482,123. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 6,115 shares of company stock worth $154,684 over the last quarter. Insiders own 6.80% of the company’s stock.

About Apellis Pharmaceuticals

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).