Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down – Should You Sell?

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) gapped down before the market opened on Friday . The stock had previously closed at $33.00, but opened at $30.00. Apellis Pharmaceuticals shares last traded at $29.08, with a volume of 976,508 shares trading hands.

Analyst Ratings Changes

APLS has been the subject of several recent research reports. Mizuho lowered their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Scotiabank lowered their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Piper Sandler lowered their target price on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. HC Wainwright lowered their price target on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Needham & Company LLC lowered their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Eight equities 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.65.

Apellis Pharmaceuticals Stock Down 16.8 %

The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -13.52 and a beta of 0.94. The firm’s fifty day moving average is $31.87 and its two-hundred day moving average is $33.74. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73.

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

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Asset Management LLC purchased a new stake in Apellis Pharmaceuticals during the third quarter valued at about $27,000. True Wealth Design LLC purchased a new stake in Apellis Pharmaceuticals during the third quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in Apellis Pharmaceuticals during the third quarter valued at about $56,000. KBC Group NV lifted its stake in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Apellis Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after buying an additional 781 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

About Apellis Pharmaceuticals

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).