Principal Financial Group Inc. Sells 3,877 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Principal Financial Group Inc. decreased its position in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 30.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,008 shares of the company’s stock after selling 3,877 shares during the quarter. Principal Financial Group Inc.’s holdings in Apellis Pharmaceuticals were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APLS. Envestnet Asset Management Inc. grew its stake 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 last quarter. Profund Advisors LLC boosted its holdings in shares of Apellis Pharmaceuticals by 90.7% in the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock worth $1,648,000 after acquiring an additional 20,435 shares in the last quarter. Algert Global LLC grew its position in Apellis Pharmaceuticals by 137.8% during the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after acquiring an additional 71,650 shares during the last quarter. Edgestream Partners L.P. grew its position in Apellis Pharmaceuticals by 240.4% during the 2nd quarter. Edgestream Partners L.P. now owns 54,572 shares of the company’s stock worth $2,093,000 after acquiring an additional 38,541 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Apellis Pharmaceuticals during the 3rd quarter valued at $1,370,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ:APLS opened at $34.38 on Tuesday. The company has a 50 day moving average price of $31.51 and a two-hundred day moving average price of $33.85. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The company has a market capitalization of $4.28 billion, a PE ratio of -16.94 and a beta of 0.94. Apellis Pharmaceuticals, Inc. has a 52 week low of $24.34 and a 52 week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.17) EPS. Analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.72 earnings per share for the current year.

Analysts Set New Price Targets

APLS has been the topic of several research analyst reports. HC Wainwright decreased their target price on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $25.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, November 4th. Scotiabank dropped their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC decreased their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. 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. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Apellis Pharmaceuticals Company 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).