Galapagos NV (NASDAQ:GLPG) Sees Significant Increase in Short Interest

Galapagos NV (NASDAQ:GLPG) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,500,000 shares, a growth of 5.6% from the October 31st total of 1,420,000 shares. Based on an average daily volume of 202,400 shares, the days-to-cover ratio is currently 7.4 days. Approximately 2.3% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages have commented on GLPG. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Leerink Partners started coverage on Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Finally, Royal Bank of Canada reduced their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, Galapagos presently has a consensus rating of “Hold” and an average price target of $30.75.

Hedge Funds Weigh In On Galapagos

Several institutional investors and hedge funds have recently bought and sold shares of GLPG. Erste Asset Management GmbH purchased a new position in Galapagos during the third quarter valued at approximately $410,000. Finepoint Capital LP lifted its stake in shares of Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after buying an additional 15,000 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Galapagos in the 3rd quarter worth $1,077,000. QRG Capital Management Inc. purchased a new stake in Galapagos in the 3rd quarter worth $247,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in 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 period. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Galapagos Price Performance

Shares of NASDAQ GLPG traded down $0.44 during midday trading on Tuesday, hitting $27.55. 35,875 shares of the stock traded hands, compared to its average volume of 149,784. The firm has a 50-day moving average of $28.32 and a two-hundred day moving average of $27.44. Galapagos has a one year low of $24.16 and a one year high of $42.46.

Galapagos Company Profile

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.