Old West Investment Management LLC Acquires Shares of 102,403 Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Old West Investment Management LLC bought a new stake in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 102,403 shares of the company’s stock, valued at approximately $2,953,000. Apellis Pharmaceuticals accounts for about 1.1% of Old West Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Old West Investment Management LLC owned 0.08% of Apellis Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Apellis Pharmaceuticals by 42.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after purchasing an additional 39,931 shares in the last quarter. Profund Advisors LLC boosted its stake in Apellis Pharmaceuticals by 90.7% during the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock worth $1,648,000 after purchasing an additional 20,435 shares during the last quarter. Algert Global LLC boosted its stake 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 purchasing an additional 71,650 shares during the last quarter. Edgestream Partners L.P. boosted its stake 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 purchasing an additional 38,541 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Apellis Pharmaceuticals during the 3rd quarter worth $1,370,000. 96.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 27.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by corporate insiders.

Apellis Pharmaceuticals Trading Down 1.1 %

NASDAQ APLS opened at $34.64 on Wednesday. The firm has a 50 day simple moving average of $29.34 and a 200-day simple moving average of $34.88. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals, Inc. has a one year low of $24.34 and a one year high of $73.80. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -17.06 and a beta of 0.94.

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 the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s revenue was up 78.3% compared to the same quarter last year. During the same period last year, the business earned ($1.17) EPS. Equities research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APLS has been the topic of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. HC Wainwright lowered their price target on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lowered their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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).