Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Here’s Why

Shares of Galapagos NV (NASDAQ:GLPG) saw unusually-high trading volume on Thursday . Approximately 95,525 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 139,724 shares.The stock last traded at $27.90 and had previously closed at $27.56.

Analyst Ratings Changes

GLPG has been the topic of a number of research reports. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a report on Monday, September 9th. Finally, Leerink Partners started coverage on shares of Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, Galapagos presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Price Performance

The firm has a 50-day moving average price of $28.93 and a 200-day moving average price of $27.62.

Institutional Trading of Galapagos

A number of hedge funds and other institutional investors have recently modified their holdings of GLPG. BNP Paribas Financial Markets grew its position in shares of Galapagos by 783.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock worth $172,000 after buying an additional 4,725 shares during the period. Headlands Technologies LLC lifted its stake in Galapagos by 949.3% during the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 712 shares during the period. Acadian Asset Management LLC lifted its stake in Galapagos by 18.5% during the 1st quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock valued at $488,000 after acquiring an additional 2,366 shares during the period. AlphaCentric Advisors LLC lifted its stake in Galapagos by 3.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 108,500 shares of the biotechnology company’s stock valued at $2,689,000 after acquiring an additional 3,500 shares during the period. Finally, Signaturefd LLC lifted its stake in Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 1,258 shares during the period. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.