Seven Eight Capital LP Has $272,000 Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Seven Eight Capital LP trimmed its holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 61.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,101 shares of the company’s stock after selling 11,341 shares during the quarter. Seven Eight Capital LP’s holdings in Apellis Pharmaceuticals were worth $272,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Apellis Pharmaceuticals in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at about $89,000. nVerses Capital LLC increased its holdings in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at approximately $205,000. Finally, Woodward Diversified Capital LLC acquired a new stake in Apellis Pharmaceuticals in the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on APLS. The Goldman Sachs Group increased their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 9th. Mizuho dropped their target price on shares of Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday. HC Wainwright decreased their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 2nd. UBS Group dropped their price objective on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.53.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $32.72 on Tuesday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -9.46 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a one year low of $31.00 and a one year high of $73.80. The business has a fifty day simple moving average of $37.72 and a 200 day simple moving average of $43.32. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company 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 posted ($1.02) EPS. The business’s revenue was up 110.2% on a year-over-year basis. Sell-side analysts expect that Apellis Pharmaceuticals, Inc. will post -1.29 EPS for the current year.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.80% of the company’s stock.

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).