Short Interest in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Decreases By 8.3%

As of December 15th, the short interest in Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has decreased significantly by 8.3%. In November, the total short interest was recorded at 21,810,000 shares, but this total fell to 20,010,000 shares in December. With an average daily trading volume of 3,350,000 shares, this means the current short-interest ratio stands at 6.0 days.

Market Analysts' Insights

Several market analysts have recently provided insights regarding the stock performance of Apellis Pharmaceuticals. For instance, Wells Fargo reduced their target price for the company from $43.00 to $30.00 while maintaining an “equal weight” rating. Similarly, on November 6th, Oppenheimer dropped their price target from $65.00 to $40.00, also giving the stock an “outperform” rating. In that same timeframe, HC Wainwright cut their target from $83.00 to $57.00 while issuing a “buy” rating. Citigroup followed suit by reducing their price target from $63.00 to $51.00, adopting a “buy” rating as well. Collectively, eight analysts recommend holding the stock, while ten suggest buying it, and two give a strong buy rating, according to data from MarketBeat.com. The consensus rating for the company is classified as a “Moderate Buy,” with an average target price of $49.94.

Apellis Pharmaceuticals' Stock Performance

On Tuesday, Apellis Pharmaceuticals opened at $31.90, with a market capitalization of $3.97 billion. The stock has a negative price-to-earnings (PE) ratio of -15.71 and a beta of 0.94. The recent 50-day moving average is $30.94, while the 200-day moving average is $34.11. The company’s stock price has seen a yearly range, hitting a low of $24.34 and a high of $73.80. With a debt-to-equity ratio of 1.91, Apellis maintains a current ratio of 4.36 and a quick ratio of 3.73. In their latest earnings report released on November 5th, the company reported a loss of ($0.46) earnings per share, falling short of predictions that anticipated a loss of ($0.32) by ($0.14). Revenue for the quarter was reported at $196.83 million, compared to estimates of $200.00 million. The company's net margin is negative at 34.97%, and the return on equity is at a negative 103.11%. Year-over-year, revenue has increased by 78.3%, contrasting with last year’s earnings report, which showed a loss of ($1.17) per share. Analysts forecast that the company will post earnings of -$1.72 per share for the current fiscal year.

Institutional Investor Activity

Institutional investors have recently made changes to their holdings in Apellis Pharmaceuticals. Bank of New York Mellon Corp raised its stake by 6.9% during the second quarter, owning 345,195 shares worth approximately $13.24 million after acquiring an additional 22,273 shares. Zurcher Kantonalbank Zurich Cantonalbank also increased its holdings by 15.5%, totaling 19,614 shares valued at $752,000 after a purchase of 2,635 shares. Panagora Asset Management Inc. began a new investment in Apellis worth $907,000 during the same period. Furthermore, nVerses Capital LLC raised its stake by an impressive 300.0%, bringing their total to 2,800 shares valued at $107,000 after previously holding 700 shares. Rhumbline Advisers also increased their position by 2.2%, now owning 123,565 shares valued at $4.74 million. Collectively, institutional investors and hedge funds own about 96.29% of the company’s stock.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing therapeutic agents that inhibit the complement system for autoimmune and inflammatory diseases. Their products include EMPAVELI, which addresses conditions like paroxysmal nocturnal hemoglobinuria and immune complex membranoproliferative glomerulonephritis, and SYFOVRE, used for treating geographic atrophy associated with age-related macular degeneration.

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