Galapagos (NASDAQ:GLPG) Shares Gap Down – Should You Sell?

Galapagos NV (NASDAQ:GLPG) gapped down before the market opened on Thursday . The stock had previously closed at $24.97, but opened at $23.94. Galapagos shares last traded at $24.25, with a volume of 92,471 shares traded.

Wall Street Analysts Forecast Growth

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

Galapagos Trading Up 0.4 %

The business has a 50 day simple moving average of $25.54 and a two-hundred day simple moving average of $27.08.

Institutional Trading of Galapagos

A number of hedge funds have recently added to or reduced their stakes in GLPG. Renaissance Technologies LLC lifted its holdings in shares of Galapagos by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 296,100 shares of the biotechnology company’s stock worth $8,143,000 after acquiring an additional 4,421 shares during the period. Finepoint Capital LP increased its position in Galapagos by 21.0% during the fourth quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company’s stock worth $18,556,000 after purchasing an additional 117,000 shares during the last quarter. Norges Bank purchased a new position in Galapagos during the fourth quarter worth approximately $3,300,000. American Century Companies Inc. raised its stake in Galapagos by 5.9% during the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company’s stock worth $711,000 after purchasing an additional 1,431 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of Galapagos by 21.7% in the 4th quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 1,866 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.