PNC Financial Services Group Inc. Decreases Stock Holdings in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

PNC Financial Services Group Inc. reduced its position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,462 shares of the company’s stock after selling 626 shares during the period. PNC Financial Services Group Inc.’s holdings in Apellis Pharmaceuticals were worth $1,686,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth $56,000. KBC Group NV lifted its position in shares of 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 last quarter. nVerses Capital LLC lifted its position in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Trading Up 2.3 %

Shares of Apellis Pharmaceuticals stock opened at $32.63 on Wednesday. Apellis Pharmaceuticals, Inc. has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company’s 50-day simple moving average is $28.83 and its 200-day simple moving average is $35.48. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -15.72 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (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 quarter last year, the firm earned ($1.17) earnings per share. The company’s revenue was up 78.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.71 earnings per share for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction dated 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 represents a 27.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright reduced their price target on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. UBS Group reduced their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group reduced their price target on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, Piper Sandler reduced their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Seven investment 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, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $49.94.

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).