State Street Corp Decreases Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

State Street Corp reduced its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,040,861 shares of the company’s stock after selling 105,833 shares during the period. State Street Corp’s holdings in Apellis Pharmaceuticals were worth $116,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighVista Strategies LLC grew its position in shares of Apellis Pharmaceuticals by 4.1% in the 2nd quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after buying an additional 300 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after purchasing an additional 359 shares during the last quarter. KBC Group NV increased its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after purchasing an additional 781 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $33.19 on Monday. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $29.65 and a 200-day simple moving average of $34.72. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -16.35 and a beta of 0.94. Apellis Pharmaceuticals, Inc. has a 12-month low of $24.34 and a 12-month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) EPS. On average, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APLS. Morgan Stanley initiated coverage on Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group reduced their price target on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. William Blair initiated coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. Finally, Citigroup dropped their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $49.94.

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).