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Insider Selling: Dunlop A. Sinclair, Apellis Pharmaceuticals Inc [APLS] Director divested 37,000 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Apellis Pharmaceuticals Inc shares valued at $1,451,835 were sold by Dunlop A. Sinclair on Jun 21 ’24. At $39.24 per share, Dunlop A. Sinclair sold 37,000 shares. The insider’s holdings dropped to 136,998 shares worth approximately $4.85 million following the completion of this transaction.

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Also, Deschatelets Pascal sold 78,907 shares, netting a total of over 3,341,848 in proceeds. Following the sale of shares at $42.35 each, the insider now holds 1,115,983 shares.

Before that, Deschatelets Pascal had sold 69,107 shares from its account. In a trade valued at $3,743,605, the Chief Scientific Officer traded Apellis Pharmaceuticals Inc shares for $54.17 each. Upon closing the transaction, the insider’s holdings decreased to 69,107 shares, worth approximately $39.52 million.

As published in their initiating research note from Piper Sandler on May 31, 2024, Apellis Pharmaceuticals Inc [APLS] has been a Neutral and the price target has been revised to $46. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of December 14, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for APLS. Earlier on November 09, 2023, Goldman initiated its rating. Their recommendation was “a Buy” for APLS stock.

Analyzing APLS Stock Performance

During the last five days, there has been a drop of approximately -12.42%. Over the course of the year, Apellis Pharmaceuticals Inc shares have dropped approximately -40.85%. Shares of the company reached a 52-week high of $73.80 on 01/09/24 and a 52-week low of $34.69 on 07/02/24. A 50-day SMA is recorded $42.16, while a 200-day SMA reached $52.41. Nevertheless, trading volume fell to 0.77 million shares from 1.76 million shares the previous day.

Support And Resistance Levels for Apellis Pharmaceuticals Inc (APLS)

According to the 24-hour chart, there is a support level at 34.77, which, if violated, would cause prices to drop to 34.12. In the upper region, resistance lies at 36.34. The next price resistance is at 37.26. RSI (Relative Strength Index) is 33.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.62, which suggests the price will decrease in the coming days. Percent R is at 91.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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