Apellis Pharmaceuticals Inc (NASDAQ:APLS) shares traded up 7.7% on Thursday . The stock traded as high as $25.33 and last traded at $24.84, 844,814 shares were traded during trading. An increase of 86% from the average session volume of 454,447 shares. The stock had previously closed at $23.07.
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $49.00 in a research report on Friday, July 12th. ValuEngine cut shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price objective (down from $52.00) on shares of Apellis Pharmaceuticals in a research report on Thursday, August 1st. Cowen set a $40.00 price objective on shares of Apellis Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Oppenheimer assumed coverage on shares of Apellis Pharmaceuticals in a research report on Tuesday, July 9th. They set an “outperform” rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.14.
The company has a debt-to-equity ratio of 0.08, a current ratio of 8.67 and a quick ratio of 8.67. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -10.92 and a beta of 0.68. The business’s fifty day simple moving average is $27.04 and its 200 day simple moving average is $23.82.
In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan acquired 11,699 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $29.71 per share, with a total value of $347,577.29. Following the completion of the purchase, the chief financial officer now owns 11,699 shares of the company’s stock, valued at $347,577.29. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cedric Francois sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.80, for a total transaction of $268,000.00. The disclosure for this sale can be found here. Insiders sold 57,460 shares of company stock valued at $1,454,807 over the last 90 days. Corporate insiders own 10.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Apellis Pharmaceuticals by 160.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock valued at $33,000 after buying an additional 800 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Apellis Pharmaceuticals in the second quarter valued at $886,000. Pictet Asset Management Ltd. bought a new position in shares of Apellis Pharmaceuticals in the second quarter valued at $1,652,000. Nuveen Asset Management LLC bought a new position in shares of Apellis Pharmaceuticals during the second quarter valued at about $4,361,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Apellis Pharmaceuticals by 2.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 699,212 shares of the company’s stock valued at $17,718,000 after purchasing an additional 19,324 shares in the last quarter. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
About Apellis Pharmaceuticals (NASDAQ:APLS)
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.
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