Rhenman & Partners Asset Management AB Sells 171,909 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Rhenman & Partners Asset Management AB reduced its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 46.8% during the 4th quarter, Holdings Channel reports. The firm owned 195,591 shares of the company’s stock after selling 171,909 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Apellis Pharmaceuticals were worth $6,241,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after buying an additional 758 shares during the last quarter. Signaturefd LLC raised its position 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 acquiring an additional 918 shares during the period. US Bancorp DE boosted its stake in 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 acquiring an additional 1,327 shares during the last quarter. XTX Topco Ltd acquired a new position in Apellis Pharmaceuticals during the third quarter valued at approximately $206,000. Finally, M&T Bank Corp bought a new stake in Apellis Pharmaceuticals in the fourth quarter valued at approximately $216,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APLS has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Wedbush lowered their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Scotiabank lifted their price target on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a “sector perform” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.59.

Insider Activity

In related news, CFO Timothy Eugene Sullivan sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the transaction, the chief financial officer now directly owns 88,100 shares of the company’s stock, valued at approximately $2,528,470. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Caroline Baumal sold 2,816 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,054 shares of company stock valued at $1,952,719. 6.80% of the stock is owned by company insiders.

Apellis Pharmaceuticals Stock Down 11.3 %

NASDAQ:APLS opened at $19.97 on Friday. Apellis Pharmaceuticals, Inc. has a twelve month low of $19.76 and a twelve month high of $57.85. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -9.84 and a beta of 0.85. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The stock’s 50 day moving average price is $26.22 and its two-hundred day moving average price is $29.05.

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

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).