Should You Hold Apellis Pharmaceuticals (APLS)?

PGIM Jennison Health Sciences Fund recently released its third quarter 2024 investor letter. A copy of the letter can be downloaded here. Given concerns regarding the decreasing pace of U.S. employment and the associated concerns that U.S. interest rates may have been maintained at levels higher than necessary to moderate the pace of inflation, U.S. equity markets fluctuated during the summer and partially reversed their year-to-date gains. The S&P 1500 Health Care Index appreciated 6.1% in the third quarter, outperforming the S&P 500, which gained 5.9%. While the fund advanced in the...