Insider trading activity at Apellis Pharmaceuticals, Inc. has garnered attention following the recent sale of 7,725 shares by insider Nur Nicholson on January 22, 2024. The shares were sold at an average price of $21.77, bringing the total transaction value to $168,173.25. Post-transaction, Nicholson retains ownership of 71,118 shares, valued at approximately $1,548,238.86, marking a 9.80% reduction in his stake in the company. This trade was formally disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Market Performance and Analyst Insights
On the day following the transaction, shares of Apellis Pharmaceuticals (NASDAQ: APLS) experienced a slight decrease, trading down 1.1% at $21.76. During midday trading, 2,214,978 shares changed hands, compared to the average volume of 3,258,745 shares. Over the past year, the stock has seen a low of $16.10 and a high of $30.91.
The company maintains a market capitalization of $2.75 billion and displays a current ratio of 3.54, with a quick ratio of 3.10 and a debt-to-equity ratio of 0.90. The price-to-earnings ratio stands at 70.18, while the firm has a fifty-day simple moving average of $22.99 and a 200-day simple moving average of $23.49.
Analysts have been adjusting their outlook on Apellis Pharmaceuticals in light of recent developments. Wells Fargo & Company lowered its price target for the stock from $29.00 to $26.00, maintaining an “overweight” rating. Similarly, Cantor Fitzgerald revised its price objective down from $39.00 to $35.00, also retaining an “overweight” rating.
In contrast, The Goldman Sachs Group reiterated a “sell” rating with a target price of $19.00. Needham & Company LLC adjusted its price objective from $29.00 to $28.00, maintaining a “buy” rating. Overall, twelve research analysts have rated the stock as a Buy, six have assigned a Hold rating, while two have issued a Sell rating. The average rating is classified as a “Moderate Buy” with a consensus target price of $33.53, according to data from MarketBeat.
Institutional Investor Movements
Recent changes by institutional investors also reflect shifting dynamics around Apellis Pharmaceuticals. Parallel Advisors LLC increased its stake by 80.0% in the second quarter, owning 1,924 shares valued at $33,000 after acquiring an additional 855 shares. Jones Financial Companies Lllp significantly raised its holdings by 206.8% in the third quarter, now owning 2,037 shares valued at $46,000.
Similarly, Allworth Financial LP grew its position by 64.1%, holding 2,194 shares valued at $50,000, and Osaic Holdings Inc. expanded its stake by 141.2% to own 2,682 shares valued at $47,000. Furthermore, Quantbot Technologies LP acquired a new stake worth approximately $64,000 in the third quarter.
Currently, institutional investors and hedge funds own approximately 96.29% of Apellis Pharmaceuticals’ stock.
Company Overview
Apellis Pharmaceuticals, Inc. (NASDAQ: APLS) is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies that target the complement cascade for treating rare and debilitating diseases. Its research focuses on modulating complement proteins to address various conditions, including ophthalmologic, hematologic, and renal disorders.
The company’s lead product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor that has received approval for treating geographic atrophy secondary to age-related macular degeneration and is under investigation for other retinal disorders.
As the market continues to evolve, the performance of Apellis Pharmaceuticals and the actions of its insiders and institutional investors will remain closely monitored by analysts and stakeholders alike.
