Geode Capital Management LLC Raises Stake in Apellis Pharmaceuticals, Inc. $APLS

Geode Capital Management LLC increased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 2.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,995,271 shares of the company’s stock after purchasing an additional 45,225 shares during the quarter. Geode Capital Management LLC owned 1.58% of Apellis Pharmaceuticals worth $34,545,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Apellis Pharmaceuticals by 3,938.7% in the first quarter. Assetmark Inc. now owns 1,252 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Apellis Pharmaceuticals by 80.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,924 shares of the company’s stock valued at $33,000 after acquiring an additional 855 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Apellis Pharmaceuticals by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company’s stock worth $84,000 after purchasing an additional 655 shares during the period. Amalgamated Bank increased its holdings in Apellis Pharmaceuticals by 12.0% in the 2nd quarter. Amalgamated Bank now owns 8,111 shares of the company’s stock valued at $140,000 after purchasing an additional 866 shares in the last quarter. Finally, Legacy Capital Group California Inc. increased its holdings in Apellis Pharmaceuticals by 32.8% in the 1st quarter. Legacy Capital Group California Inc. now owns 9,554 shares of the company’s stock valued at $209,000 after purchasing an additional 2,359 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APLS has been the subject of several analyst reports. Wall Street Zen raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. reduced their price target on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Mizuho lowered their price objective on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. TD Cowen dropped their price objective on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, HC Wainwright reduced their target price on shares of Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $33.06.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $21.59 on Thursday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 69.65 and a beta of 0.70. 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 business’s 50 day moving average is $23.09 and its two-hundred day moving average is $21.92. Apellis Pharmaceuticals, Inc. has a 52-week low of $16.10 and a 52-week high of $35.72.

Apellis Pharmaceuticals (NASDAQ:APLS) last released 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. The business had revenue of $458.58 million during the quarter, compared to the consensus estimate of $364.58 million. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The business’s quarterly revenue was up 133.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.46) earnings per share. Analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 31,092 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $23.72, for a total value of $737,502.24. Following the completion of the sale, the director owned 3,837 shares of the company’s stock, valued at approximately $91,013.64. The trade was a 89.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David O. Watson sold 5,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $20.06, for a total transaction of $100,300.00. Following the transaction, the general counsel directly owned 108,730 shares in the company, valued at $2,181,123.80. The trade was a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 87,921 shares of company stock valued at $2,099,423. Insiders own 6.50% 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).