ProShare Advisors LLC Trims Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

ProShare Advisors LLC reduced its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,492 shares of the company’s stock after selling 960 shares during the period. ProShare Advisors LLC’s holdings in Apellis Pharmaceuticals were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC lifted its stake in shares of Apellis Pharmaceuticals by 90.7% during the second quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after buying an additional 20,435 shares during the period. Amalgamated Bank boosted its holdings in shares of Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after purchasing an additional 359 shares during the last quarter. E Fund Management Co. Ltd. grew its position in shares of Apellis Pharmaceuticals by 109.0% in the second quarter. E Fund Management Co. Ltd. now owns 14,696 shares of the company’s stock valued at $564,000 after purchasing an additional 7,664 shares during the period. Edgestream Partners L.P. increased its stake in Apellis Pharmaceuticals by 240.4% in the second quarter. Edgestream Partners L.P. now owns 54,572 shares of the company’s stock valued at $2,093,000 after purchasing an additional 38,541 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Apellis Pharmaceuticals by 42.2% during the second quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after buying an additional 39,931 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $28.06 on Friday. The company’s fifty day moving average price is $36.48 and its two-hundred day moving average price is $42.00. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The firm has a market capitalization of $3.41 billion, a P/E ratio of -8.34 and a beta of 0.88. Apellis Pharmaceuticals, Inc. has a 12 month low of $26.69 and a 12 month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 110.2% on a year-over-year basis. On average, research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on APLS shares. Wells Fargo & Company cut their price objective on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Mizuho dropped their target price on shares of Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Wedbush lifted their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

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).