Hello APLS fell today -13.23 %. Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4). APLS announced that the company approved the grant of equity awards to one new employee with a grant date of September 1, 2021, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2021 Inducement Stock Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The employees received options to purchase 1,000 shares of Apellis common stock and 500 restricted stock units (RSUs). The options have an exercise price of $ 64.73, which is equal to the closing price of Apellis common stock on September 1, 2021, the grant date of the options. Is that the reason for the drop? Might that mean that one or more employees executed their call options and then sold their stocks?
Look at the data. This is fairly typical of Biotechs - periods of lower volatility with explosive volatility periods.