Millennium Management LLC increased its stake in shares of Apellis Pharmaceuticals Inc (NASDAQ:APLS) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,182,385 shares of the company’s stock after buying an additional 75,276 shares during the period. Millennium Management LLC owned 2.10% of Apellis Pharmaceuticals worth $15,596,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of APLS. Russell Investments Group Ltd. raised its holdings in Apellis Pharmaceuticals by 20.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 60,414 shares of the company’s stock worth $1,074,000 after purchasing an additional 10,360 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Apellis Pharmaceuticals by 36.5% in the 3rd quarter. Prudential Financial Inc. now owns 184,130 shares of the company’s stock valued at $3,274,000 after buying an additional 49,230 shares during the last quarter. Swiss National Bank lifted its holdings in Apellis Pharmaceuticals by 116.4% during the 3rd quarter. Swiss National Bank now owns 63,400 shares of the company’s stock valued at $1,127,000 after purchasing an additional 34,100 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Apellis Pharmaceuticals by 12.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 142,788 shares of the company’s stock valued at $2,539,000 after purchasing an additional 15,621 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Apellis Pharmaceuticals by 1.9% during the 3rd quarter. BlackRock Inc. now owns 2,853,195 shares of the company’s stock valued at $50,730,000 after purchasing an additional 54,227 shares during the last quarter. Institutional investors and hedge funds own 50.81% of the company’s stock.
NASDAQ APLS traded up $0.93 on Friday, hitting $20.19. The company’s stock had a trading volume of 142,087 shares, compared to its average volume of 433,261. Apellis Pharmaceuticals Inc has a 52-week low of $11.45 and a 52-week high of $26.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.89 and a current ratio of 11.89. The stock has a market cap of $1.25 billion, a P/E ratio of -8.63 and a beta of 0.49.
Several research firms have weighed in on APLS. Robert W. Baird started coverage on Apellis Pharmaceuticals in a research report on Thursday, March 28th. They set an “outperform” rating and a $45.00 price objective on the stock. Zacks Investment Research raised Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Cantor Fitzgerald set a $57.00 target price on Apellis Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. downgraded 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. Finally, B. Riley began coverage on Apellis Pharmaceuticals in a research report on Tuesday, January 8th. They issued a “buy” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.67.
In other news, major shareholder Morningside Venture Investment bought 441,176 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $17.00 per share, with a total value of $7,499,992.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.30% of the stock is owned by insiders.
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Apellis Pharmaceuticals Profile
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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