Victory Capital Management Inc. Decreases Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. trimmed its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 6.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 461,866 shares of the company’s stock after selling 30,031 shares during the quarter. Victory Capital Management Inc.’s holdings in Apellis Pharmaceuticals were worth $17,717,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Simplicity Wealth LLC grew its holdings in Apellis Pharmaceuticals by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock valued at $3,021,000 after purchasing an additional 499 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $29,000. Oppenheimer Asset Management Inc. grew its holdings in Apellis Pharmaceuticals by 8.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock valued at $511,000 after purchasing an additional 664 shares during the last quarter. ProShare Advisors LLC grew its holdings in Apellis Pharmaceuticals by 11.6% during the 1st quarter. ProShare Advisors LLC now owns 8,452 shares of the company’s stock valued at $497,000 after purchasing an additional 881 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Apellis Pharmaceuticals by 4.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 20,057 shares of the company’s stock valued at $1,179,000 after purchasing an additional 903 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wedbush upped their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Wells Fargo & Company dropped their target price on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. The Goldman Sachs Group upped their target price on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $72.13.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the sale, the director now owns 136,998 shares of the company’s stock, valued at $5,375,801.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $36.78 on Friday. The company has a 50 day moving average price of $38.09 and a 200-day moving average price of $45.10. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $33.49 and a fifty-two week high of $73.80. The stock has a market capitalization of $4.48 billion, a PE ratio of -10.71 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter in the prior year, the company earned ($1.02) EPS. The company’s revenue was up 110.2% compared to the same quarter last year. Equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.28 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).