Galapagos (NASDAQ:GLPG) Sets New 1-Year Low – Should You Sell?

Galapagos NV (NASDAQ:GLPG)’s share price reached a new 52-week low on Monday . The stock traded as low as $24.15 and last traded at $24.34, with a volume of 159430 shares traded. The stock had previously closed at $25.65.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GLPG shares. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lowered 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. Finally, TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Galapagos presently has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Price Performance

The business’s 50-day moving average price is $27.23 and its 200 day moving average price is $27.53.

Institutional Investors Weigh In On Galapagos

A number of institutional investors have recently made changes to their positions in GLPG. Rhumbline Advisers increased its holdings in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 shares during the period. Headlands Technologies LLC increased its stake in Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 446 shares during the period. Renaissance Technologies LLC lifted its position in Galapagos by 1.6% in the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock valued at $6,710,000 after purchasing an additional 4,300 shares during the last quarter. Primecap Management Co. CA lifted its position in Galapagos by 0.7% in the second quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock valued at $17,848,000 after purchasing an additional 5,000 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Galapagos in the second quarter worth approximately $284,000. 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.