PNC Financial Services Group Inc. Trims Stock Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

PNC Financial Services Group Inc. decreased its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 58,462 shares of the company’s stock after selling 626 shares during the period. PNC Financial Services Group Inc.’s holdings in Apellis Pharmaceuticals were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its stake in Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock worth $211,000 after purchasing an additional 3,330 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Apellis Pharmaceuticals by 107.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 16,677 shares of the company’s stock worth $981,000 after purchasing an additional 8,647 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Apellis Pharmaceuticals by 4.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 20,057 shares of the company’s stock worth $1,179,000 after purchasing an additional 903 shares during the period. Tidal Investments LLC purchased a new position in Apellis Pharmaceuticals during the first quarter worth approximately $266,000. Finally, Comerica Bank raised its stake in Apellis Pharmaceuticals by 500.7% during the first quarter. Comerica Bank now owns 8,163 shares of the company’s stock worth $480,000 after purchasing an additional 6,804 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Trading Up 2.3 %

NASDAQ APLS opened at $32.63 on Wednesday. Apellis Pharmaceuticals, Inc. has a 12 month low of $24.34 and a 12 month high of $73.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -15.72 and a beta of 0.87. The company’s fifty day moving average price is $28.83 and its two-hundred day moving average price is $35.48.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS 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 company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter last year, the company earned ($1.17) earnings per share. The company’s revenue was up 78.3% compared to the same quarter last year. As a group, research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This trade represents a 27.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on APLS shares. Scotiabank cut their price target on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Citigroup dropped their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. UBS Group dropped their price objective on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, HC Wainwright dropped their price objective 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. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus 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).