Eastern Bank Acquires 10,000 Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Eastern Bank increased its holdings in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 87.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,500 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Eastern Bank’s holdings in Apellis Pharmaceuticals were worth $686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $27,000. True Wealth Design LLC purchased a new position in Apellis Pharmaceuticals during the 3rd quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in Apellis Pharmaceuticals during the 3rd quarter worth $56,000. KBC Group NV increased its holdings in Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $130,000 after purchasing an additional 781 shares during the period. 96.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group downgraded Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Tuesday, December 17th. Wells Fargo & Company reduced their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Piper Sandler reduced their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. William Blair began coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC cut their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.65.

Apellis Pharmaceuticals Stock Up 4.2 %

Shares of APLS stock opened at $28.59 on Tuesday. Apellis Pharmaceuticals, Inc. has a 1-year low of $24.34 and a 1-year high of $71.90. The stock’s fifty day moving average price is $31.87 and its 200 day moving average price is $33.55. 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 company has a market cap of $3.56 billion, a price-to-earnings ratio of -14.08 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS 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 firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the prior year, the firm posted ($1.17) EPS. The business’s revenue was up 78.3% compared to the same quarter last year. On average, research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by insiders.

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).