Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Should You Sell?

Shares of Galapagos NV (NASDAQ:GLPG) reached a new 52-week low on Monday . The stock traded as low as $22.36 and last traded at $22.51, with a volume of 26245 shares changing hands. The stock had previously closed at $22.78.

Analyst Upgrades and Downgrades

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

Galapagos Stock Performance

The firm has a fifty day moving average price of $25.58 and a 200 day moving average price of $27.09.

Institutional Trading of Galapagos

Several hedge funds have recently modified their holdings of GLPG. Finepoint Capital LP lifted its holdings in Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after buying an additional 15,000 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Galapagos by 31.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company’s stock worth $1,352,000 after acquiring an additional 11,777 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Galapagos by 5.9% during the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company’s stock valued at $711,000 after acquiring an additional 1,431 shares during the period. Creative Planning boosted its holdings in Galapagos by 18.8% in the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock valued at $630,000 after acquiring an additional 3,463 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Galapagos in the third quarter worth about $410,000. 32.46% of the stock is owned by 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.