Pascal Deschatelets, the Chief Scientific Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), has executed significant stock transactions, according to recent filings. On May 8, Deschatelets sold a total of 78,907 shares of common stock at an average price of $4.31, totaling approximately $340,089.
In addition, Deschatelets sold another batch of shares through multiple transactions. A total of 56,335 shares were sold at prices ranging from $41.575 to $42.570, with a weighted average sale price of $42.1504. Another set of 22,472 shares were sold at prices ranging from $42.575 to $43.545, with the weighted average sale price reported at $42.849. Lastly, 100 shares were sold at a price of $44.025. The combined sales of these transactions amounted to over $3.3 million.
These sales were part of a prearranged 10b5-1 trading plan dated December 8, 2023, which allows company insiders to set up a trading plan for selling stocks they own in accordance with the insider trading laws.
The transactions have resulted in Deschatelets holding 1,115,983 shares of Apellis Pharmaceuticals following the sales. Investors tracking insider activity typically observe such sales for insights into executive confidence in the company's prospects, although such transactions do not always indicate future performance.
Apellis Pharmaceuticals, headquartered in Waltham, Massachusetts, is a biopharmaceutical company focused on the development of novel therapeutic compounds to treat diseases through the inhibition of the complement system.
InvestingPro Insights
Amidst the recent insider trading activity at Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), the market has been closely monitoring the company's financial health and growth prospects. According to InvestingPro data, Apellis has a market capitalization of $5.16 billion USD, with a striking revenue growth of nearly 395% over the last twelve months as of Q1 2024. This suggests a significant expansion in the company's business scale despite a negative P/E ratio of -12.37, indicating that the company is not currently profitable.
Investors should note that while the stock has experienced a substantial decline, with a 1-week price total return of -10.93% and a 1-month return of -23.26%, analysts have revised their earnings upwards for the upcoming period, as per InvestingPro Tips. This revision could signal a changing tide for Apellis's financial outlook, though analysts do not anticipate the company will be profitable this year. Additionally, the company's liquid assets exceed short-term obligations, which is a positive indicator of the company's ability to meet its immediate financial liabilities.
For those interested in a deeper dive into the company's financials and stock performance, there are additional InvestingPro Tips available. As of now, there are 4 more tips that could provide further insights into Apellis's stock trends and potential investment opportunities. To access these valuable tips, visit https://www.investing.com/pro/APLS and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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