Galapagos (NASDAQ:GLPG) Shares Gap Down – Here’s What Happened

Galapagos NV (NASDAQ:GLPG)’s stock price 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.

Analyst Ratings Changes

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

Galapagos Trading Up 0.4 %

The company’s 50 day moving average is $25.54 and its 200-day moving average is $27.08.

Institutional Investors Weigh In On Galapagos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Galapagos during the 4th quarter worth $26,000. GAMMA Investing LLC increased its stake in Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after buying an additional 736 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after buying an additional 1,510 shares during the period. Signaturefd LLC increased its stake in Galapagos by 65.6% during the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,541 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in shares of Galapagos in the 3rd quarter worth about $247,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.