Apellis Pharmaceuticals general counsel Watson sells $101,103 in stock

David O. Watson, General Counsel of Apellis Pharmaceuticals, Inc. (NASDAQ:), recently sold shares of the company amounting to $101,103. The transaction, which occurred on January 22, 2025, involved the sale of 3,323 shares at an average price of $30.4255 per share. According to InvestingPro data, APLS currently trades at $31.04, with analysts setting price targets ranging from $26 to $78. The company maintains strong liquidity with a current ratio of 4.36, indicating robust short-term financial health. According to the Form 4 filing with the Securities and Exchange Commission, the sale was executed to cover tax withholding on restricted stock units that were released on January 21, 2025.

Following this transaction, Watson holds 144,994 shares directly. Additionally, Watson maintains indirect ownership of shares through various trusts and custodial accounts, including 3,333 shares in a custodial account for his son, 70,136 shares in The David O. Watson Irrevocable Trust of 2023, and 6,667 shares in The Watson Education Trust. Watson has disclaimed beneficial ownership of shares held by the trusts except for his pecuniary interest. With a market capitalization of $3.87 billion and analysts anticipating strong sales growth, APLS presents an interesting investment case that warrants careful analysis.

In other recent news, Apellis Pharmaceuticals reported robust growth with full-year 2024 U.S. net product revenues of approximately $709 million, marking a growth trajectory of 162% over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, played a significant role in this performance, contributing $611 million and $98 million in net revenues respectively. The company is also preparing for a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases C3G and primary IC-MPGN.

On the analyst front, Goldman Sachs revised its rating for Apellis from Buy to Neutral, while RBC Capital Markets adjusted its stock price target for the company, increasing it to $26.00. Morgan Stanley (NYSE:) also initiated coverage on Apellis with an Equalweight rating.

In terms of organizational changes, Apellis announced the departure of Chief Operating Officer Adam Townsend, who will be succeeded by David Acheson as Executive Vice President of Commercial. These are among the recent developments for Apellis Pharmaceuticals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.