Squarepoint Ops LLC Decreases Position in Apellis Pharmaceuticals, Inc. $APLS

Squarepoint Ops LLC decreased its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 25.6% during the second quarter, HoldingsChannel reports. The fund owned 329,392 shares of the company’s stock after selling 113,401 shares during the quarter. Squarepoint Ops LLC’s holdings in Apellis Pharmaceuticals were worth $5,702,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in APLS. Corton Capital Inc. acquired a new position in Apellis Pharmaceuticals in the 2nd quarter worth about $364,000. Woodline Partners LP lifted its stake in shares of Apellis Pharmaceuticals by 15.5% in the first quarter. Woodline Partners LP now owns 218,850 shares of the company’s stock worth $4,786,000 after buying an additional 29,373 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Apellis Pharmaceuticals by 43.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock worth $1,838,000 after purchasing an additional 30,507 shares in the last quarter. Norges Bank purchased a new stake in shares of Apellis Pharmaceuticals in the second quarter valued at approximately $40,977,000. Finally, Schroder Investment Management Group increased its holdings in shares of Apellis Pharmaceuticals by 91.9% in the second quarter. Schroder Investment Management Group now owns 485,615 shares of the company’s stock valued at $8,406,000 after purchasing an additional 232,506 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HC Wainwright dropped their price target on shares of Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Mizuho lowered their target price on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Wall Street Zen raised shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company began coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, TD Cowen cut their price target on Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.06.

Insider Activity at Apellis Pharmaceuticals

In related news, CFO Timothy Eugene Sullivan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the transaction, the chief financial officer directly owned 110,936 shares of the company’s stock, valued at approximately $3,109,536.08. The trade was a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel David O. Watson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $20.06, for a total value of $100,300.00. Following the completion of the transaction, the general counsel owned 108,730 shares of the company’s stock, valued at approximately $2,181,123.80. This represents a 4.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 87,184 shares of company stock worth $2,079,464. 6.80% of the stock is currently owned by company insiders.

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock opened at $25.23 on Monday. The firm has a fifty day moving average of $23.06 and a 200-day moving average of $22.42. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $35.71. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $3.19 billion, a P/E ratio of 81.39 and a beta of 0.37.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The firm had revenue of $458.58 million during the quarter, compared to analysts’ expectations of $364.58 million. During the same period in the prior year, the company earned ($0.46) EPS. The firm’s revenue was up 133.0% on a year-over-year basis. As a group, analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Apellis Pharmaceuticals 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).