Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,068 shares of the company’s stock after acquiring an additional 1,766 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Apellis Pharmaceuticals were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APLS. Future Financial Wealth Managment LLC acquired a new stake in Apellis Pharmaceuticals during the 1st quarter worth approximately $29,000. CWA Asset Management Group LLC purchased a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at $205,000. Woodward Diversified Capital LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at $210,000. HC Advisors LLC purchased a new stake in Apellis Pharmaceuticals during the 4th quarter worth $210,000. Finally, Whittier Trust Co. acquired a new stake in Apellis Pharmaceuticals in the 4th quarter valued at $221,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the transaction, the insider now directly owns 1,115,983 shares in the company, valued at $47,261,880.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total value of $3,341,711.45. Following the sale, the insider now owns 1,115,983 shares of the company’s stock, valued at approximately $47,261,880.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the sale, the director now owns 136,998 shares in the company, valued at $5,375,801.52. The disclosure for this sale can be found here. Insiders have sold a total of 185,014 shares of company stock worth $8,537,118 over the last quarter. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on APLS. Mizuho reduced their price objective on Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Wedbush lowered their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Piper Sandler initiated coverage on shares of Apellis Pharmaceuticals in a research note on Friday, May 31st. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $100.00 price objective on shares of Apellis Pharmaceuticals in a report on Friday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.56.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $36.29 on Tuesday. The business has a 50 day simple moving average of $42.37 and a 200-day simple moving average of $54.60. Apellis Pharmaceuticals, Inc. has a twelve month low of $19.83 and a twelve month high of $91.35. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -10.49 and a beta of 0.95. The company has a current ratio of 3.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.35.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.54). Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The company had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $163.37 million. During the same period in the prior year, the company earned ($1.56) earnings per share. The firm’s revenue was up 284.3% compared to the same quarter last year. As a group, equities research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.1 earnings per share 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).