Francois Cedric, the Chief Executive Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently executed a transaction involving the sale of company stock. The sale comes amid a challenging period for the company's stock, which has declined over 17% in the past week. On January 13, 2025, Cedric sold 6,247 shares of Apellis common stock at an average price of $28.7021 per share. This transaction amounted to a total value of approximately $179,302. According to InvestingPro analysis, Apellis currently appears undervalued, with strong liquidity reflected in its 4.36 current ratio.
Following this transaction, Cedric holds 307,415 shares directly. Additionally, he maintains indirect ownership through several trusts. The Cedric Francois Irrevocable Trust of 2023 - 2, managed by trustee William V. A. Zorn, holds 532,946 shares, while The Cedric Francois Irrevocable Trust of 2023, also managed by Zorn, holds 472,065 shares. The Francois Grossi Trust, with Juliana Grossi as trustee, holds 300,000 shares, and The Francois-DuBois Educational Trust, managed by the Fiduciary Trust Company of New England, holds 234,411 shares. Cedric disclaims beneficial ownership of these shares except to the extent of his pecuniary interest. The company, with a market capitalization of $3.47 billion, has shown impressive revenue growth of 162% over the last twelve months. For comprehensive insider trading analysis and additional insights, subscribers can access the full Pro Research Report on InvestingPro.
In other recent news, Apellis Pharmaceuticals reported substantial revenue growth with preliminary full-year 2024 U.S. net product revenues of approximately $709 million, a 162% increase over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, contributed significantly to this performance. Analysts from InvestingPro anticipate continued sales growth. Apellis is also preparing for the submission of a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases C3G and primary IC-MPGN.
Recent developments include organizational changes and the initiation of Phase 3 studies for pegcetacoplan in two other nephrology indications. Analysts from firms such as Jefferies, Morgan Stanley (NYSE:MS), and Goldman Sachs have provided various ratings and price targets for the company, with Goldman Sachs recently revising its rating from Buy to Neutral.
These developments come amid competition from Astellas Pharma and its eye drug, which has led to a reassessment of the market outlook for Apellis' own eye drug, Syfovre. Despite this, Apellis remains in a strong financial position with year-end cash of approximately $410 million, expected to fund operations to profitability.
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