Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Short Interest Update

As of January 31, 2025, there has been a notable decline in short interest for Apellis Pharmaceuticals, Inc. (NASDAQ:APLS). The total short interest has decreased by 5.4%, moving from 18,040,000 shares on January 15 to 17,060,000 shares.

Considering the average daily trading volume of 2,640,000 shares, the current short-interest ratio now stands at 6.5 days, indicating that it would take this amount of time to cover the existing short positions.

Insider Activity

In related news, there have been some insider transactions at Apellis Pharmaceuticals. On January 22, Chief Accounting Officer James George Chopas sold 1,096 shares at an average price of $30.43, bringing in $33,351.28. Post-sale, he retains a total of 48,138 shares valued at about $1,464,839.34, reflecting a 2.23% decrease in his ownership.

Additionally, Chief Executive Officer Cedric Francois sold 2,824 shares on January 29, achieving a total transaction value of $83,364.48 at an average price of $29.52. Following this sale, he holds 415,695 shares valued at approximately $12,271,316.40, which represents a 0.67% decrease in his ownership. In total, company insiders sold 60,365 shares over the last three months, worth $1,810,479. Currently, corporate insiders own 6.80% of Apellis's stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors have been actively trading shares of Apellis Pharmaceuticals recently. Notably, Avoro Capital Advisors LLC increased its stake by 10.0% in the fourth quarter, now holding 12,222,222 shares worth $390,011,000 after acquiring an additional 1,111,111 shares.

The Vanguard Group also grew its holdings in the fourth quarter by 2.3%, owning 10,046,025 shares valued at $320,569,000 after purchasing 230,450 additional shares. In the third quarter, JPMorgan Chase & Co. increased its holdings by 23.3%, now possessing 3,884,730 shares worth $112,036,000.

Other significant purchases include Braidwell LP, which boosted its position by 410.8% in the third quarter, now holding 3,125,183 shares worth $90,130,000 after buying an additional 2,513,383 shares, and Jennison Associates LLC, which increased its stake by 51.6% to 2,760,404 shares acquired at $88,084,000. In total, institutional investors own 96.29% of Apellis Pharmaceuticals stock.

Apellis Pharmaceuticals Stock Performance

On Tuesday, January 31, shares of Apellis Pharmaceuticals opened at $27.40. The company has a market capitalization of $3.41 billion and a negative price-to-earnings ratio of -13.50, along with a beta of 0.96. The stock’s 50-day moving average price is $31.05, while the 200-day moving average price is $32.03.

Liquidity ratios illustrate a current ratio of 4.36 and a quick ratio of 3.73, with a debt-to-equity ratio of 1.91. Over the past year, Apellis Pharmaceuticals has seen a low of $24.34 and a high of $71.90.

Wall Street Analyst Opinions

Several brokerage firms have recently updated their ratings for Apellis Pharmaceuticals. The Goldman Sachs Group downgraded their rating from “buy” to “neutral”, establishing a $36.00 price target in their report from December 17, 2024. Conversely, Evercore ISI upgraded the stock to a “strong-buy” rating on October 31.

Furthermore, HC Wainwright reaffirmed a “buy” rating with a price target of $57.00 as of February 13, while Citigroup adjusted their price target from $63.00 to $51.00, maintaining a “buy” rating. Wells Fargo & Company lowered their target price from $43.00 to $30.00, assigning an “equal weight” rating in another update on November 6. In summary, eight analysts have issued a hold rating, ten have a buy rating, and one has given a strong buy rating, resulting in a consensus rating of “Moderate Buy” and an average price target of $46.71.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery, development, and commercialization of therapeutic compounds through complement system inhibition, mainly for autoimmune and inflammatory diseases. The company offers EMPAVELI, which treats several conditions including paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy. Additionally, they provide SYFOVRE for treating geographic atrophy associated with age-related macular degeneration.

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