Insider Selling at Apellis Pharmaceuticals: General Counsel David O. Watson Sells Shares

On March 5th, 2023, David O. Watson, the General Counsel of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), executed a sale of 5,569 shares of the company’s stock. The average selling price for these shares was $25.10, resulting in a total transaction value of $139,781.90. Following this transaction, Watson now holds 138,730 shares of Apellis Pharmaceuticals, which are valued at around $3,482,123. This sale indicates a reduction of 3.86% in Watson's ownership stake in the company. Details of the transaction were reported in a filing submitted to the Securities and Exchange Commission (SEC), accessible through various financial news outlets.

Apellis Pharmaceuticals Stock Overview

On Thursday, APLS shares experienced a slight decline, down by $0.68 to reach $25.32. Approximately 1,186,955 shares exchanged hands, which is less than the average volume of 1,921,061 shares. Apellis Pharmaceuticals has a market capitalization of $3.15 billion and, as of now, the stock shows a PE ratio of -12.47, with a beta of 0.93. The company’s shares have fluctuated between a 52-week low of $23.77 and a high of $64.33. Its 50-day simple moving average stands at $29.38, while the 200-day average is at $31.26.

Recent Earnings and Company Performance

On February 28, 2023, Apellis Pharmaceuticals unveiled its latest earnings report, revealing an EPS of ($0.29) for the quarter—better than the consensus estimate of ($0.37) by $0.08. The reported revenue was $212.5 million, surpassing expectations of $197.92 million. Nonetheless, the company also reported a significant negative net margin of 34.97% and a negative return on equity of 103.11%. In comparison to the same quarter last year, revenue has risen by 45.2%. Analysts project that Apellis Pharmaceuticals will report an EPS of -1.70 for the current year.

Institutional Interest in Apellis Pharmaceuticals

Recent data reveals alterations in various hedge fund holdings associated with APLS. For instance, EverSource Wealth Advisors LLC increased its stock holdings in Apellis Pharmaceuticals by 2,707.1% during the fourth quarter, acquiring a total of 786 shares valued at $25,000. Additionally, other firms such as Wolverine Asset Management LLC and True Wealth Design LLC added new positions in Apellis, each valued around $27,000. Notably, institutional investors and hedge funds combined own approximately 96.29% of the company’s stock, indicating strong institutional support.

Analyst Ratings and Insights

Several analysts have recently provided insights regarding APLS stock. JPMorgan Chase & Co. raised their target price from $50 to $54, giving it an "overweight" rating. Conversely, The Goldman Sachs Group lowered their target price from $36 to $32, issuing a "neutral" rating. Similarly, Robert W. Baird and Royal Bank of Canada revised their price objectives, with Baird dropping it from $92 to $55. Another firm, HC Wainwright, maintained a "buy" rating with a price target of $57. Overall, eight analysts rate the stock as a hold, while ten recommend it as a buy, leading to a consensus rating of "Moderate Buy" and an average price target of $45.53.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. is a biopharmaceutical company that focuses on developing and commercializing therapies by targeting the complement system to treat autoimmune and inflammatory diseases. Their notable products include EMPAVELI, which is used for treating various conditions such as paroxysmal nocturnal hemoglobinuria and geographic atrophy caused by age-related macular degeneration, under the name SYFOVRE.

Insider, Selling, Shares