Galapagos (NASDAQ:GLPG) Reaches New 1-Year Low – Time to Sell?

Galapagos NV (NASDAQ:GLPG)’s share price reached a new 52-week low on Tuesday . The company traded as low as $23.43 and last traded at $23.75, with a volume of 74047 shares changing hands. The stock had previously closed at $23.61.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLPG. TD Cowen downgraded shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, January 9th. Barclays reiterated an “underweight” rating on shares of Galapagos in a research note on Thursday, January 23rd. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their target price 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. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Stock Performance

The business has a fifty day moving average of $26.49 and a two-hundred day moving average of $27.40.

Institutional Trading of Galapagos

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Marshall Wace LLP bought a new position in Galapagos in the 2nd quarter valued at $315,000. Millennium Management LLC grew its position in shares of Galapagos by 5.3% during the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after purchasing an additional 17,089 shares in the last quarter. Creative Planning bought a new position in shares of Galapagos in the second quarter worth $456,000. Finally, Stonepine Capital Management LLC raised its position in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares in the last quarter. Hedge funds and other 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.