10 Mid-Cap Stocks Insiders Are Selling Recently

2. Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Number of Insiders Selling: 11

Market Capitalization: $3.757B

Apellis Pharmaceuticals is another biopharmaceutical company on this list of 10 mid-cap stocks insiders are selling recently. The company is focused on the development of innovative therapies for various serious diseases, by controlling a part of the immune system known as the complement cascade. The company’s two medicines targeting C3, the central protein in the cascade, have been approved. One of these is the first ever therapy for geographic atrophy, a leading cause of blindness around the world. In January, this medicine, Syfovre, was also approved for use in Australia.

Over the last two months, 11 insiders, including CEO, CFO, and CMO sold around $2.86 million worth of Apellis Pharmaceuticals shares at an average price of around $29.95 per share. The stock is now trading at $28.68, having lost 10.12% since the beginning of the year.

Over the last 12 months, the stock declined 57.67%, with some analysts attributing this decline to lack of approval of Syvovre in Europe. However, according to data from Stock Analysis, 18 analyst have an average “Buy” rating on Apellis Pharmaceuticals stock, with the 12-month price target of $46.71.

For the third quarter of 2024, the company reported it has generated $152 million in Syfovre US net product revenue. Total revenue for the period amounted to $196.8 million, which compares to total revenue of $110.4 million, including $75.3 million in Syfovre US net product revenue for the third quarter of 2023.