Victory Capital Management Inc. Sells 242,593 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Victory Capital Management Inc. cut its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 430,458 shares of the company’s stock after selling 242,593 shares during the period. Victory Capital Management Inc.’s holdings in Apellis Pharmaceuticals were worth $22,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Crown Wealth Group LLC raised its holdings in shares of Apellis Pharmaceuticals by 137.5% in the fourth quarter. Crown Wealth Group LLC now owns 11,814 shares of the company’s stock worth $611,000 after buying an additional 6,840 shares during the last quarter. Principal Financial Group Inc. grew its position in Apellis Pharmaceuticals by 191.4% during the fourth quarter. Principal Financial Group Inc. now owns 72,982 shares of the company’s stock valued at $3,774,000 after buying an additional 47,936 shares during the period. Saturn V Capital Management LLC acquired a new stake in Apellis Pharmaceuticals during the fourth quarter valued at $9,414,000. Raymond James & Associates grew its position in shares of Apellis Pharmaceuticals by 2.9% in the fourth quarter. Raymond James & Associates now owns 14,437 shares of the company’s stock valued at $747,000 after purchasing an additional 405 shares during the period. Finally, UBS Group AG lifted its stake in shares of Apellis Pharmaceuticals by 337.6% in the fourth quarter. UBS Group AG now owns 131,897 shares of the company’s stock worth $6,820,000 after buying an additional 101,758 shares in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on APLS shares. Wells Fargo & Company lifted their target price on shares of Apellis Pharmaceuticals from $55.00 to $76.00 in a research note on Friday, May 5th. Citigroup lifted their price objective on shares of Apellis Pharmaceuticals from $88.00 to $106.00 in a report on Monday, May 8th. Bank of America boosted their price target on shares of Apellis Pharmaceuticals from $112.00 to $114.00 in a report on Friday, May 5th. The Goldman Sachs Group upped their target price on shares of Apellis Pharmaceuticals from $124.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 14th. Finally, Wedbush upped their price target on shares of Apellis Pharmaceuticals from $51.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, April 17th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.93.

Insiders Place Their Bets

In other news, insider Pascal Deschatelets sold 12,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $63.79, for a total value of $765,480.00. Following the completion of the sale, the insider now directly owns 1,020,813 shares in the company, valued at $65,117,661.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $63.79, for a total transaction of $765,480.00. Following the transaction, the insider now owns 1,020,813 shares in the company, valued at $65,117,661.27. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey Eisele sold 1,646 shares of Apellis Pharmaceuticals stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $68.76, for a total value of $113,178.96. Following the transaction, the insider now owns 53,883 shares in the company, valued at approximately $3,704,995.08. The disclosure for this sale can be found here. Insiders sold 141,896 shares of company stock worth $10,956,209 over the last three months. 7.50% of the stock is currently owned by corporate insiders.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $88.86 on Monday. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of -14.17 and a beta of 1.23. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $94.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.88 and a quick ratio of 6.27. The business’s 50-day moving average is $78.23 and its 200-day moving average is $61.78.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 225.82% and a negative net margin of 652.50%. The company had revenue of $44.80 million for the quarter, compared to the consensus estimate of $26.10 million. During the same period in the previous year, the company earned ($1.42) EPS. The firm’s revenue for the quarter was up 211.1% compared to the same quarter last year. Equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -5.2 EPS for the current fiscal year.

Apellis Pharmaceuticals Company Profile

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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.