Jennison Associates LLC Lowers Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Jennison Associates LLC trimmed its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 49.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,821,115 shares of the company’s stock after selling 1,770,301 shares during the quarter. Jennison Associates LLC owned about 1.50% of Apellis Pharmaceuticals worth $52,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth about $27,000. Capital Performance Advisors LLP purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $56,000. KBC Group NV grew its stake in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after buying an additional 679 shares in the last quarter. nVerses Capital LLC raised its position in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after buying an additional 2,100 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Apellis Pharmaceuticals by 1,300.8% during the 1st quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock valued at $211,000 after buying an additional 3,330 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APLS has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. William Blair initiated coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. UBS Group reduced their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Oppenheimer lowered their price objective on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.94.

Apellis Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ:APLS opened at $28.01 on Friday. Apellis Pharmaceuticals, Inc. has a 1 year low of $24.34 and a 1 year high of $73.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock’s 50-day moving average is $29.23 and its 200 day moving average is $35.84. The company has a market cap of $3.48 billion, a PE ratio of -13.80 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the business earned ($1.17) EPS. The business’s revenue was up 78.3% compared to the same quarter last year. Sell-side analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 27.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by corporate insiders.

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).