Galapagos (NASDAQ:GLPG) Hits New 1-Year Low – Here’s Why

Shares of Galapagos NV (NASDAQ:GLPG) reached a new 52-week low during mid-day trading 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 Ratings Changes

A number of equities analysts recently issued reports on GLPG shares. Royal Bank of Canada decreased their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, Barclays restated an “underweight” rating on shares of Galapagos in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Galapagos presently has a consensus rating of “Hold” and an average target price of $30.75.

Galapagos Price Performance

The company’s 50 day moving average is $26.37 and its 200-day moving average is $27.34.

Hedge Funds Weigh In On Galapagos

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning acquired a new stake in Galapagos during the second quarter valued at $456,000. GAMMA Investing LLC grew its position in shares of Galapagos by 77.4% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 974 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Galapagos in the 3rd quarter valued at approximately $1,077,000. Signaturefd LLC lifted its holdings in shares of Galapagos by 65.6% in the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 2,541 shares during the period. Finally, Millennium Management LLC raised its holdings in Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after purchasing an additional 17,089 shares during 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.