Readystate Asset Management LP Takes Position in Apellis Pharmaceuticals, Inc. $APLS

Readystate Asset Management LP bought a new position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 241,977 shares of the company’s stock, valued at approximately $5,476,000. Readystate Asset Management LP owned 0.19% of Apellis Pharmaceuticals at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of Apellis Pharmaceuticals by 206.8% during the third quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock valued at $46,000 after purchasing an additional 1,373 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Apellis Pharmaceuticals by 141.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after buying an additional 1,570 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Apellis Pharmaceuticals by 338.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock worth $94,000 after buying an additional 4,191 shares during the last quarter. Headlands Technologies LLC increased its position in Apellis Pharmaceuticals by 748.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,892 shares of the company’s stock valued at $119,000 after buying an additional 6,080 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Apellis Pharmaceuticals by 12.0% during the second quarter. Amalgamated Bank now owns 8,111 shares of the company’s stock valued at $140,000 after buying an additional 866 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 27,192 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $591,969.84. Following the sale, the chief executive officer directly owned 286,045 shares of the company’s stock, valued at $6,227,199.65. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nur Nicholson sold 7,725 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $168,173.25. Following the completion of the transaction, the insider owned 71,118 shares in the company, valued at $1,548,238.86. The trade was a 9.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,537 shares of company stock worth $2,608,532 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Stock Down 0.6%

Shares of APLS stock opened at $21.57 on Wednesday. The company has a current ratio of 3.54, a quick ratio of 3.10 and a debt-to-equity ratio of 0.90. Apellis Pharmaceuticals, Inc. has a 12 month low of $16.10 and a 12 month high of $30.48. The stock has a market cap of $2.73 billion, a P/E ratio of 69.58 and a beta of 0.26. The company has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $23.91.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on APLS shares. HC Wainwright cut their target price on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. William Blair reiterated an “outperform” rating on shares of Apellis Pharmaceuticals in a research note on Monday, December 15th. Robert W. Baird raised their price objective on shares of Apellis Pharmaceuticals from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Wells Fargo & Company decreased their target price on shares of Apellis Pharmaceuticals from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Finally, Barclays initiated coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, January 28th. They set an “equal weight” rating and a $24.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Hold” and an average price target of $33.00.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.