Rtw Investments 13F: Cuts APLS Stake by $163M

RTW Investments recently reduced its holdings in Apellis Pharmaceuticals, Inc. (NGM:APLS) by 52% during the latest quarter. The fund sold 3,981,719 shares, bringing its total down to 3,685,045 shares, valued at approximately $151.2 million. This change was disclosed in a Form 13F filing with the SEC, reflecting positions as of the end of the reporting period.

What Changed in RTW Investments' Apellis Pharmaceuticals Position

RTW Investments cut its stake in Apellis Pharmaceuticals significantly, reducing its holdings from 7,666,764 shares to 3,685,045 shares. This represents a 52% decrease, with the remaining shares valued at about $151.2 million. The move marks a substantial reduction in the fund's investment in the biopharmaceutical company.

Other Institutional Activity in Apellis Pharmaceuticals

Several other institutional investors also adjusted their positions in Apellis Pharmaceuticals. BlackRock, Inc. increased its holdings by 7,276,851 shares, ending with 13,536,964 shares worth around $544.6 million. Avoro Capital Advisors LLC maintained its position with 12,222,222 shares valued at $491.7 million. Morgan Stanley added 869,395 shares, bringing its total to 10,042,399 shares valued at $404 million. State Street Corp and UBS Group AG also increased their stakes, with State Street adding 2,231,544 shares to hold 6,844,990 shares, and UBS adding 2,020,459 shares to hold 6,206,681 shares.

Apellis Pharmaceuticals, Inc. Stock Holds Steady

Shares of Apellis Pharmaceuticals (NGM:APLS) are trading near $41.03. The company has a market capitalization of approximately $5.25 billion and a P/E ratio of 38.3. Its stock reached a 52-week high of $41.14 and a low of $16.61, with a 50-day moving average of $33.60 and a 200-day moving average of $26.15. Apellis holds a current ratio of 3.63 and a quick ratio of 3.00, with a debt-to-equity ratio of 114.66.

Recent Earnings

In its recent earnings report, Apellis Pharmaceuticals posted revenue of $1.11 billion, reflecting a growth rate of 60.9%. The company's net margin stands at 12.1%, and it achieved a return on equity of 46.0%. Its earnings per share were $1.07. The next earnings release is anticipated soon, though no exact date was provided.

Insider Buying and Selling at Apellis Pharmaceuticals, Inc.

On May 14, 2026, several insiders at Apellis Pharmaceuticals were active in trading the company's stock. VP and Chief Accounting Officer James George Chopas bought 38,244 shares. In contrast, Chief Research and Development Officer Leslie Meltzer sold 107,024 shares, and CEO Cedric Francois sold a substantial 1,805,259 shares.

Analysts Set New Price Targets

Analysts have recently adjusted their ratings on Apellis Pharmaceuticals. On April 17, 2026, Wells Fargo downgraded the stock to a 'hold' rating with a $41 price target. Other firms, including JP Morgan and Citigroup, also downgraded their ratings to 'hold' with the same target. The consensus among analysts is a 'hold' recommendation, with a target mean price of approximately $40.92.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc., based in Waltham, Massachusetts, is a biopharmaceutical company focused on discovering and developing treatments for diseases with high unmet needs. It offers innovative therapies like EMPAVELI for paroxysmal nocturnal hemoglobinuria and SYFOVRE for geographic atrophy related to age-related macular degeneration. With a workforce of 733 employees, Apellis aims to address various complex conditions through its treatments and collaborations.

Bottom Line

RTW Investments' decision to cut its stake in Apellis Pharmaceuticals by over half is a notable shift in its investment strategy. Investors keep a close eye on these filings for insights into institutional sentiment. Remember, 13F filings provide a backward-looking view and may not reflect current positions.