Bank of Nova Scotia Invests $10.30 Million in Apellis Pharmaceuticals, Inc. $APLS

Bank of Nova Scotia acquired a new stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 594,812 shares of the company’s stock, valued at approximately $10,296,000.

A number of other hedge funds have also bought and sold shares of the business. Parallel Advisors LLC lifted its stake in Apellis Pharmaceuticals by 80.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,924 shares of the company’s stock valued at $33,000 after acquiring an additional 855 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apellis Pharmaceuticals by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company’s stock valued at $84,000 after purchasing an additional 655 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Apellis Pharmaceuticals by 338.5% during the second quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock valued at $94,000 after purchasing an additional 4,191 shares during the period. Amalgamated Bank boosted its holdings in Apellis Pharmaceuticals by 12.0% in the second quarter. Amalgamated Bank now owns 8,111 shares of the company’s stock worth $140,000 after purchasing an additional 866 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC bought a new stake in Apellis Pharmaceuticals in the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Analyst Ratings Changes

APLS has been the topic of several research analyst reports. Wells Fargo & Company began coverage on Apellis Pharmaceuticals in a report on Wednesday, October 15th. They set an “overweight” rating and a $32.00 price target on the stock. Robert W. Baird increased their target price on Apellis Pharmaceuticals from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wall Street Zen upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Citigroup lowered their price objective on shares of Apellis Pharmaceuticals from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Wolfe Research started coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 6th. They issued a “peer perform” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $33.06.

Insider Transactions at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 31,092 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $23.72, for a total transaction of $737,502.24. Following the sale, the director directly owned 3,837 shares in the company, valued at $91,013.64. This trade represents a 89.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the transaction, the chief financial officer directly owned 110,936 shares of the company’s stock, valued at $3,109,536.08. This represents a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,373 shares of company stock valued at $2,084,036 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Apellis Pharmaceuticals Stock Up 3.8%

APLS stock opened at $24.68 on Thursday. Apellis Pharmaceuticals, Inc. has a twelve month low of $16.10 and a twelve month high of $35.71. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. The stock has a market cap of $3.12 billion, a P/E ratio of 79.62 and a beta of 0.37. The business’s 50-day moving average price is $23.00 and its 200-day moving average price is $22.27.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.64. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The company had revenue of $458.58 million during the quarter, compared to analyst estimates of $364.58 million. During the same period in the prior year, the firm posted ($0.46) EPS. The firm’s quarterly revenue was up 133.0% compared to the same quarter last year. On average, equities research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

About Apellis Pharmaceuticals

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).