Galapagos NV (NASDAQ:GLPG – Get Free Report)’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.
Get Our Latest Stock Report on GLPG
Galapagos Stock Performance
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.
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