BlackRock Inc. raised its stake in shares of Apellis Pharmaceuticals Inc (NASDAQ:APLS) by 152.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,798,968 shares of the company’s stock after buying an additional 1,692,121 shares during the period. BlackRock Inc. owned about 4.98% of Apellis Pharmaceuticals worth $61,578,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of Apellis Pharmaceuticals by 264.8% during the 2nd quarter. Rhumbline Advisers now owns 33,952 shares of the company’s stock valued at $747,000 after acquiring an additional 24,645 shares during the period. Victory Capital Management Inc. grew its position in shares of Apellis Pharmaceuticals by 150.2% during the 2nd quarter. Victory Capital Management Inc. now owns 932,753 shares of the company’s stock valued at $20,520,000 after acquiring an additional 559,913 shares during the period. Jennison Associates LLC grew its position in shares of Apellis Pharmaceuticals by 50.5% during the 2nd quarter. Jennison Associates LLC now owns 570,464 shares of the company’s stock valued at $12,550,000 after acquiring an additional 191,313 shares during the period. Northern Trust Corp grew its position in shares of Apellis Pharmaceuticals by 3.7% during the 1st quarter. Northern Trust Corp now owns 119,443 shares of the company’s stock valued at $2,640,000 after acquiring an additional 4,316 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Apellis Pharmaceuticals by 285.3% during the 1st quarter. Wells Fargo & Company MN now owns 6,149 shares of the company’s stock valued at $136,000 after acquiring an additional 4,553 shares during the period. Institutional investors and hedge funds own 57.58% of the company’s stock.
A number of equities research analysts have recently commented on the company. Cantor Fitzgerald set a $52.00 target price on Apellis Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, July 31st. B. Riley upgraded Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Monday, July 30th. Zacks Investment Research cut Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, Cowen restated a “buy” rating and set a $40.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $36.00.
In related news, General Counsel David O. Watson sold 15,776 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $18.78, for a total value of $296,273.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Morningside Venture Investment acquired 140,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was purchased at an average price of $18.34 per share, for a total transaction of $2,567,600.00. The disclosure for this purchase can be found here. Insiders own 9.30% of the company’s stock.
APLS stock opened at $15.75 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 26.02 and a current ratio of 26.02. Apellis Pharmaceuticals Inc has a 12-month low of $12.45 and a 12-month high of $32.00. The stock has a market capitalization of $998.85 million and a P/E ratio of -4.26.
Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, July 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.14). As a group, analysts expect that Apellis Pharmaceuticals Inc will post -2.2 earnings per share for the current year.
About Apellis Pharmaceuticals
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.
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