AlphaCentric Advisors LLC Buys New Shares in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

AlphaCentric Advisors LLC bought a new stake in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the third quarter, HoldingsChannel reports. The fund bought 47,500 shares of the company’s stock, valued at approximately $1,370,000.

A number of other institutional investors have also added to or reduced their stakes in APLS. BI Asset Management Fondsmaeglerselskab A S bought a new position in Apellis Pharmaceuticals in the first quarter valued at $89,000. nVerses Capital LLC increased its stake in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Apellis Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after acquiring an additional 781 shares during the last quarter. CWM LLC increased its stake in Apellis Pharmaceuticals by 299.9% in the second quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after acquiring an additional 3,113 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock valued at $211,000 after buying an additional 3,330 shares during the period. Institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. UBS Group cut 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. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, HC Wainwright dropped their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.41.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $28.56 on Tuesday. Apellis Pharmaceuticals, Inc. has a fifty-two week low of $26.28 and a fifty-two week high of $73.80. The company has a 50 day simple moving average of $31.81 and a two-hundred day simple moving average of $37.40. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -10.42 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08.

Insider Buying and Selling at Apellis Pharmaceuticals

In related 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 completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

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).