Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Here’s What Happened

Shares of Galapagos NV (NASDAQ:GLPG) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.46 and last traded at $23.71, with a volume of 14157 shares traded. The stock had previously closed at $23.76.

Wall Street Analyst Weigh In

GLPG has been the topic of several research reports. Royal Bank of Canada decreased their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Finally, Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Price Performance

The business’s 50 day moving average is $26.84 and its 200-day moving average is $27.48.

Institutional Trading of Galapagos

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 736 shares during the period. Rhumbline Advisers increased its position in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,510 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares during the period. Finally, Creative Planning grew its stake in shares of Galapagos by 18.8% in the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock worth $630,000 after purchasing an additional 3,463 shares during the last quarter. Institutional investors own 32.46% of the company’s stock.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.