Simplify Asset Management Inc. Makes New $2.42 Million Investment in Apellis Pharmaceuticals, Inc. $APLS

Simplify Asset Management Inc. purchased a new position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 106,888 shares of the company’s stock, valued at approximately $2,419,000.

Several other institutional investors and hedge funds have also modified their holdings of APLS. Corton Capital Inc. acquired a new stake in Apellis Pharmaceuticals during the 2nd quarter worth approximately $364,000. Woodline Partners LP raised its holdings in shares of Apellis Pharmaceuticals by 15.5% during the first quarter. Woodline Partners LP now owns 218,850 shares of the company’s stock worth $4,786,000 after acquiring an additional 29,373 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Apellis Pharmaceuticals by 43.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock valued at $1,838,000 after acquiring an additional 30,507 shares in the last quarter. Highland Capital Management LLC bought a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at $1,135,000. Finally, Schroder Investment Management Group boosted its stake in Apellis Pharmaceuticals by 91.9% in the 2nd quarter. Schroder Investment Management Group now owns 485,615 shares of the company’s stock worth $8,406,000 after purchasing an additional 232,506 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 31,092 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $23.72, for a total value of $737,502.24. Following the sale, the director owned 3,837 shares in the company, valued at $91,013.64. This represents a 89.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David O. Watson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $24.49, for a total value of $122,450.00. Following the completion of the sale, the general counsel directly owned 103,730 shares of the company’s stock, valued at approximately $2,540,347.70. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,092 shares of company stock worth $1,366,652. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on APLS shares. JPMorgan Chase & Co. dropped their price target on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. TD Cowen dropped their target price on Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. HC Wainwright cut their target price on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Citigroup decreased their price target on shares of Apellis Pharmaceuticals from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Apellis Pharmaceuticals in a report on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.94.

Apellis Pharmaceuticals Trading Up 0.8%

Shares of Apellis Pharmaceuticals stock opened at $25.17 on Tuesday. Apellis Pharmaceuticals, Inc. has a 12-month low of $16.10 and a 12-month high of $35.57. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $23.09 and its 200-day moving average is $22.90. The stock has a market cap of $3.18 billion, a P/E ratio of 81.20 and a beta of 0.37.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.64. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The firm had revenue of $458.58 million for the quarter, compared to analyst estimates of $364.58 million. During the same period in the prior year, the firm posted ($0.46) earnings per share. The company’s quarterly revenue was up 133.0% compared to the same quarter last year. Equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.