Cinctive Capital Management LP Takes Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Cinctive Capital Management LP acquired a new stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 86,991 shares of the company’s stock, valued at approximately $2,776,000. Cinctive Capital Management LP owned about 0.07% of Apellis Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after purchasing an additional 735,160 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Apellis Pharmaceuticals by 52.9% during the third quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock valued at $4,606,000 after buying an additional 55,282 shares during the period. Old West Investment Management LLC acquired a new stake in Apellis Pharmaceuticals during the third quarter worth approximately $2,953,000. Teacher Retirement System of Texas grew its stake in Apellis Pharmaceuticals by 9.4% in the 4th quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company’s stock worth $691,000 after acquiring an additional 1,864 shares during the period. Finally, KBC Group NV raised its holdings in Apellis Pharmaceuticals by 3,862.3% in the 4th quarter. KBC Group NV now owns 104,287 shares of the company’s stock valued at $3,328,000 after acquiring an additional 101,655 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 13,551 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $412,356.93. Following the sale, the chief executive officer now owns 418,519 shares of the company’s stock, valued at $12,735,533.17. The trade was a 3.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the sale, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,054 shares of company stock worth $1,952,719. 6.80% of the stock is currently owned by company insiders.

Apellis Pharmaceuticals Trading Up 1.4 %

Shares of APLS opened at $23.00 on Thursday. Apellis Pharmaceuticals, Inc. has a one year low of $21.70 and a one year high of $58.12. The stock has a 50-day moving average price of $26.58 and a 200 day moving average price of $29.21. 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 company has a market capitalization of $2.89 billion, a P/E ratio of -11.33 and a beta of 0.92.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on APLS. The Goldman Sachs Group lowered their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Wedbush dropped their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Scotiabank boosted their target price on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a “sector perform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating for the company in a research note on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.59.

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).