Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 7.70MM shares of Apellis Pharmaceuticals Inc (APLS). This represents 7.0% of the company.
In their previous filing dated February 3, 2022 they reported 5.87MM shares and 6.10% of the company, an increase in shares of 31.34% and an increase in total ownership of 0.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 44.72% Upside
As of February 1, 2023, the average one-year price target for Apellis Pharmaceuticals is $76.31. The forecasts range from a low of $40.40 to a high of $129.15. The average price target represents an increase of 44.72% from its latest reported closing price of $52.73.
The projected annual revenue for Apellis Pharmaceuticals is $222MM, an increase of 96.08%. The projected annual EPS is $-5.42.
Fund Sentiment
There are 614 funds or institutions reporting positions in Apellis Pharmaceuticals. This is an increase of 91 owner(s) or 17.40%.
Average portfolio weight of all funds dedicated to US:APLS is 0.4479%, an increase of 16.3198%. Total shares owned by institutions increased in the last three months by 6.25% to 109,329K shares.
What are large shareholders doing?
Avoro Capital Advisors holds 10,125,000 shares representing 9.16% ownership of the company. In it's prior filing, the firm reported owning 9,805,000 shares, representing an increase of 3.16%. The firm increased its portfolio allocation in APLS by 45.82% over the last quarter.
Wellington Management Group Llp holds 9,957,416 shares representing 9.01% ownership of the company. In it's prior filing, the firm reported owning 11,542,743 shares, representing a decrease of 15.92%. The firm increased its portfolio allocation in APLS by 37.81% over the last quarter.
T. Rowe Price Investment Management holds 5,516,123 shares representing 4.99% ownership of the company.
EcoR1 Capital holds 5,183,431 shares representing 4.69% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 3,350,963 shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 8,679,813 shares, representing a decrease of 159.02%. The firm decreased its portfolio allocation in APLS by 66.30% over the last quarter.
Apellis Pharmaceuticals Background Information
(This description is provided by the company.)
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, the company aims to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
