Nur Nicholson, an insider at Apellis Pharmaceuticals, Inc. (NASDAQ: APLS), completed the sale of 7,725 shares of the company on January 22, 2023. The shares were sold at an average price of $21.77, bringing the total transaction value to $168,173.25. Following this sale, Nicholson holds 71,118 shares of Apellis, valued at approximately $1,548,238.86. This sale represents a 9.80% reduction in Nicholson’s ownership in the company. The transaction was filed with the U.S. Securities and Exchange Commission (SEC) and is accessible on their official website.
On the same day, shares of Apellis Pharmaceuticals experienced a slight decline, trading down 1.1% to $21.76 during midday trading. A total of 2,214,978 shares changed hands, compared to the company’s average trading volume of 3,258,745 shares. Over the past year, Apellis’s stock has fluctuated, reaching a low of $16.10 and a high of $30.91.
Market Analysis and Analyst Ratings
Several financial analysts have recently provided insights regarding Apellis Pharmaceuticals’ stock. Wells Fargo & Company lowered its price target for the company from $29.00 to $26.00, while maintaining an “overweight” rating. Cantor Fitzgerald also adjusted its price objective from $39.00 to $35.00 with a similar “overweight” rating.
In contrast, the Goldman Sachs Group reaffirmed a “sell” rating, setting a target price of $19.00. Needham & Company LLC reduced its price objective from $29.00 to $28.00, categorizing the stock as a “buy.” Weiss Ratings continued to hold a “sell (d)” rating on Apellis shares.
Overall, twelve analysts have rated Apellis Pharmaceuticals with a “Buy” rating, six have assigned a “Hold” rating, and two have issued a “Sell” rating. According to data from MarketBeat, the company holds an average rating of “Moderate Buy” with a consensus target price of approximately $33.53.
Institutional Investment Trends
Recent activity among institutional investors indicates a growing interest in Apellis Pharmaceuticals. For instance, Parallel Advisors LLC increased its stake in the company by 80.0% in the second quarter and now owns 1,924 shares valued at around $33,000. Similarly, Jones Financial Companies Lllp raised its holdings by 206.8% in the third quarter, bringing their total to 2,037 shares valued at $46,000.
Allworth Financial LP also expanded its position in Apellis by 64.1% in the third quarter, now owning 2,194 shares worth $50,000. Osaic Holdings Inc. grew its stake by 141.2% in the second quarter, while Quantbot Technologies LP acquired a new stake estimated at $64,000 during the third quarter. Currently, institutional investors and hedge funds collectively own 96.29% of Apellis Pharmaceuticals.
Company Overview and Future Prospects
Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies that target the complement cascade, aiming to treat rare and debilitating diseases. The company’s research initiatives concentrate on modulating complement proteins to address a variety of conditions affecting the eyes, blood, and kidneys.
The firm’s lead product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for treating geographic atrophy secondary to age-related macular degeneration. The company is also exploring its applications in other retinal disorders.
As Apellis continues to advance its research and navigate the competitive landscape, investor interest will likely remain high, particularly as more developments unfold in its therapeutic offerings.
