Parallax Volatility Advisers L.P. Trims Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Parallax Volatility Advisers L.P. trimmed its stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) by 58.0% during the third quarter, Holdings Channel.com reports. The fund owned 77,153 shares of the company’s stock after selling 106,610 shares during the period. Parallax Volatility Advisers L.P.’s holdings in Apellis Pharmaceuticals were worth $5,269,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter worth approximately $23,571,000. Lord Abbett & CO. LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter worth approximately $64,648,000. Nuveen Asset Management LLC grew its holdings in Apellis Pharmaceuticals by 9.1% during the 3rd quarter. Nuveen Asset Management LLC now owns 410,401 shares of the company’s stock worth $28,030,000 after acquiring an additional 34,201 shares in the last quarter. Putnam Investments LLC acquired a new position in Apellis Pharmaceuticals during the 3rd quarter worth approximately $7,226,000. Finally, Harbour Capital Advisors LLC acquired a new position in Apellis Pharmaceuticals during the 3rd quarter worth approximately $392,000. 87.26% of the stock is owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ:APLS opened at $64.89 on Friday. The stock has a market cap of $7.22 billion, a P/E ratio of -10.59 and a beta of 1.19. The firm has a fifty day moving average price of $56.66 and a 200 day moving average price of $55.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.29 and a quick ratio of 3.78. Apellis Pharmaceuticals, Inc. has a 1-year low of $33.32 and a 1-year high of $70.75.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.45) by ($0.05). The business had revenue of $22.70 million for the quarter, compared to analyst estimates of $24.44 million. Apellis Pharmaceuticals had a negative return on equity of 204.77% and a negative net margin of 864.70%. The company’s quarterly revenue was down 62.4% on a year-over-year basis. Sell-side analysts predict that Apellis Pharmaceuticals, Inc. will post -5.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on APLS. Wells Fargo & Company cut shares of Apellis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $83.00 to $58.00 in a report on Monday, January 2nd. Robert W. Baird boosted their price target on shares of Apellis Pharmaceuticals from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. HC Wainwright boosted their price target on shares of Apellis Pharmaceuticals from $75.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Needham & Company LLC upped their target price on shares of Apellis Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Finally, Stifel Nicolaus upped their target price on shares of Apellis Pharmaceuticals from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $78.40.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 28,200 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $52.06, for a total transaction of $1,468,092.00. Following the completion of the transaction, the chief executive officer now owns 965,128 shares in the company, valued at approximately $50,244,563.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apellis Pharmaceuticals news, insider Jeffrey Eisele sold 1,646 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $68.76, for a total transaction of $113,178.96. Following the completion of the transaction, the insider now owns 53,883 shares in the company, valued at approximately $3,704,995.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cedric Francois sold 28,200 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $52.06, for a total transaction of $1,468,092.00. Following the completion of the transaction, the chief executive officer now owns 965,128 shares of the company’s stock, valued at approximately $50,244,563.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,934 shares of company stock worth $4,497,717. 8.00% of the stock is owned by insiders.

About Apellis Pharmaceuticals

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Apellis Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutic compounds to treat diseases with high unmet needs. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, and Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.