Rhenman & Partners Asset Management AB Has $5.26 Million Stock Position in Apellis Pharmaceuticals, Inc. $APLS

Rhenman & Partners Asset Management AB boosted its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 149.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 232,250 shares of the company’s stock after acquiring an additional 139,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Apellis Pharmaceuticals were worth $5,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its holdings in shares of Apellis Pharmaceuticals by 206.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after acquiring an additional 1,373 shares during the last quarter. Osaic Holdings Inc. boosted its position in Apellis Pharmaceuticals by 141.2% during the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after purchasing an additional 1,570 shares during the period. Quantbot Technologies LP bought a new position in Apellis Pharmaceuticals during the third quarter worth $64,000. EverSource Wealth Advisors LLC increased its holdings in shares of Apellis Pharmaceuticals by 338.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock valued at $94,000 after purchasing an additional 4,191 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Apellis Pharmaceuticals by 748.8% in the second quarter. Headlands Technologies LLC now owns 6,892 shares of the company’s stock valued at $119,000 after purchasing an additional 6,080 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on APLS shares. Bank of America raised shares of Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of Apellis Pharmaceuticals from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays initiated coverage on Apellis Pharmaceuticals in a report on Wednesday, January 28th. They set an “equal weight” rating and a $24.00 price objective for the company. The Goldman Sachs Group reiterated a “sell” rating and set a $19.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, January 12th. Finally, Needham & Company LLC reduced their price target on Apellis Pharmaceuticals from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.72.

Apellis Pharmaceuticals Stock Down 0.4%

APLS stock opened at $20.07 on Friday. Apellis Pharmaceuticals, Inc. has a 52 week low of $16.10 and a 52 week high of $30.48. The business has a 50-day simple moving average of $22.50 and a 200 day simple moving average of $23.55. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98. The company has a market cap of $2.57 billion, a PE ratio of 154.40 and a beta of 0.26.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.86. The firm had revenue of $199.91 million for the quarter, compared to analyst estimates of $199.28 million. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.29) EPS. Sell-side analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 5,928 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $129,052.56. Following the completion of the sale, the insider directly owned 1,151,382 shares in the company, valued at $25,065,586.14. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James George Chopas sold 2,064 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $44,933.28. Following the completion of the sale, the chief accounting officer directly owned 49,805 shares in the company, valued at approximately $1,084,254.85. This represents a 3.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,537 shares of company stock worth $2,608,532 in the last three months. Company insiders own 6.50% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.