Apellis Pharmaceuticals (APLS) is facing a decline in its stock price today, primarily driven by negative sentiment surrounding recent insider selling activities. Notably, the company's Chief Medical Officer was involved in these sales, which has contributed to a cautious outlook among analysts. Piper Sandler has maintained a Hold rating with a price target of $32.00, slightly below the last close of $33.00. Meanwhile, RBC Capital has also issued a Hold rating, adjusting its target to $26.00 from $24.00, indicating a conservative stance amid current market conditions.
The stock is currently trading at $28.73, marking a 12.94% decrease from its previous close of $33.00 and a 4.23% drop from its opening price of $30.00.