Insider Buying: Apellis Pharmaceuticals Inc (APLS) Major Shareholder Buys 441,176 Shares of Stock

Apellis Pharmaceuticals Inc (NASDAQ:APLS) major shareholder Morningside Venture Investment acquired 441,176 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $17.00 per share, with a total value of $7,499,992.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ APLS opened at $19.33 on Friday. Apellis Pharmaceuticals Inc has a 52 week low of $11.45 and a 52 week high of $32.00. The company has a quick ratio of 11.89, a current ratio of 11.89 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.25 and a beta of 0.37.

Hedge funds and other institutional investors have recently modified their holdings of the business. Flinton Capital Management LLC bought a new position in Apellis Pharmaceuticals in the 4th quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apellis Pharmaceuticals by 159.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,903 shares of the company’s stock worth $38,000 after purchasing an additional 1,785 shares during the period. Great West Life Assurance Co. Can bought a new position in Apellis Pharmaceuticals in the 3rd quarter worth about $107,000. PNC Financial Services Group Inc. boosted its stake in Apellis Pharmaceuticals by 35.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,380 shares of the company’s stock worth $124,000 after purchasing an additional 2,440 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Apellis Pharmaceuticals by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,216 shares of the company’s stock worth $161,000 after purchasing an additional 9,541 shares during the period. Institutional investors and hedge funds own 53.89% of the company’s stock.

APLS has been the subject of several recent research reports. Zacks Investment Research lowered Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Cantor Fitzgerald set a $53.00 price objective on Apellis Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 3rd. Citigroup lifted their price objective on Apellis Pharmaceuticals from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. B. Riley initiated coverage on Apellis Pharmaceuticals in a report on Tuesday, January 8th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered Apellis Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Wednesday, January 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $39.33.

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Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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