Redmile Group APLS Position
Exited12-Fund ConvergenceRedmile Group exited their position in Apellis Pharmaceuticals Inc. (APLS) in Q2 2024, after holding the stock for 2 quarters.
The position was first reported in Q1 2024 and has been tracked across 2 quarterly 13F filings.
APLS is a convergence signal: 12 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 2 readout for APL-3007, pegcetacoplan (APL-2) in 440 days (Jun 30, 2027), making the timing of Redmile's position particularly relevant.
Short interest stands at 23.5% of float with 11.4 days to cover, indicating significant bearish positioning against the stock.
About Apellis Pharmaceuticals Inc.
Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The company's lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases. It also develops EMPAVELI (systemic pegcetacoplan) for the treatment of cold agglutinin disease (CAD), and hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA) in hematology; C3 glomerulopathy (C3G), and immune complex membranoproliferative glomerulonephritis (IC-MPGN) in nephrology; and amyotrophic lateral sclerosis (ALS) in neurology. In addition, the company develops APL-2006, a bispecific C3 and VEGF inhibitor for treating complement-mediated disorders; APL-1030, a C3 inhibitor for the treatment of multiple neurodegenerative diseases; and the combination of EMPAVELI and a small interfering RNA, or siRNA for reducing the production of C3 proteins by the liver. It has a collaboration and license agreement with Swedish Orphan Biovitrum AB (publ) to co-develop pegcetacoplan; and a research collaboration with Beam Therapeutics Inc. focused on the use of Beam's base editing technology to discover new treatments for complement-driven diseases. Apellis Pharmaceuticals, Inc. was incorporated in 2009 and is based in Waltham, Massachusetts.
Full company profile →Short Interest
23.5%
11.4 days to cover
Redmile Group APLS Position History
Frequently Asked Questions
Does Redmile Group own APLS?
No. Redmile Group exited their position in Apellis Pharmaceuticals Inc. (APLS) in Q2 2024. They previously held the stock for 2 quarters.
How many hedge funds own APLS?
12 specialist biotech hedge funds currently hold APLS, including Avoro Capital Advisors, EcoR1 Capital, Deep Track Capital and 9 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Redmile Group first buy APLS?
Redmile Group's position in APLS was first reported in Q1 2024. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Redmile Group's APLS position increasing or decreasing?
Redmile Group completely exited their APLS position in the most recent quarter.
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