Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
Apellis Pharmaceuticals (NASDAQ:APLS) General Counsel David O. Watson sold 5,000 shares of common stock on June 16, 2025, at a price of $18.77, totaling $93,850. The sale comes amid a challenging period for the $2.23 billion market cap company, whose shares have declined nearly 48% over the past six months according to InvestingPro data.
Following the transaction, Watson directly owns 133,730 shares of Apellis Pharmaceuticals. He also indirectly owns 10,000 shares through a custodial account for his minor children and 70,136 shares through The David O. Watson Irrevocable Trust of 2023. William Zorn is the trustee of The David O. Watson Irrevocable Trust of 2023. InvestingPro analysis suggests the stock is currently undervalued, with analyst targets ranging from $18 to $60 per share.
This sale was executed under a pre-arranged 10b5-1 trading plan. Despite recent price weakness, the company maintains strong liquidity with a current ratio of 4.08, according to InvestingPro data, which offers comprehensive analysis and additional insights through its Pro Research Report.
In other recent news, Apellis Pharmaceuticals reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of -$0.74, which missed the forecast of -$0.34. Revenue also fell short, coming in at $166.8 million compared to the expected $197.77 million. The company attributed the lower sales to a reduction in inventory and a lack of funding at co-pay assistance programs. Despite the earnings miss, Apellis Pharmaceuticals continues to lead the geographic atrophy market with its product, Cyfovri, maintaining a 60% market share. Wells Fargo (NYSE:WFC) analysts raised the price target for Apellis Pharmaceuticals to $29, maintaining an Equal Weight rating, while Citi adjusted the price target to $41, maintaining a Buy rating. Meanwhile, Raymond (NSE:RYMD) James downgraded the stock from ’Strong Buy’ to ’Outperform’, lowering the price target to $52. Apellis is also awaiting potential FDA approval for EMPAVELI for new indications, which could bolster future revenues. The FDA’s decision on EMPAVELI is expected by July 28, 2025, which could expand its label and spark renewed interest in the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.