Wolverine Asset Management LLC Takes Position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 949 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Apellis Pharmaceuticals in the third quarter worth approximately $56,000. nVerses Capital LLC increased its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after purchasing an additional 781 shares in the last quarter. CWM LLC raised its holdings in Apellis Pharmaceuticals by 299.9% during the second quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after buying an additional 3,113 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock valued at $211,000 after buying an additional 3,330 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APLS. Needham & Company LLC lowered their target price on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $25.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, November 4th. Piper Sandler dropped their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Wedbush upped their target price on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 27.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is owned by company insiders.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $28.06 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a market cap of $3.49 billion, a PE ratio of -13.82 and a beta of 0.87. Apellis Pharmaceuticals, Inc. has a 1 year low of $24.34 and a 1 year high of $73.80. The stock’s fifty day moving average price is $30.45 and its two-hundred day moving average price is $36.51.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the prior year, the business earned ($1.17) EPS. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% 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.

Apellis Pharmaceuticals Profile

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).