Galapagos (NASDAQ:GLPG) Sets New 1-Year Low – Here’s What Happened

Galapagos NV (NASDAQ:GLPG)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.36 and last traded at $22.51, with a volume of 26245 shares traded. The stock had previously closed at $22.78.

Analysts Set New Price Targets

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

Galapagos Trading Up 1.3 %

The company’s 50-day moving average price is $25.58 and its 200-day moving average price is $27.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning acquired a new stake in Galapagos in the 2nd quarter valued at approximately $456,000. GAMMA Investing LLC raised its holdings in shares of Galapagos by 77.4% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 974 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Galapagos in the third quarter worth $1,077,000. Signaturefd LLC lifted its position in shares of Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Galapagos during the fourth quarter worth $26,000. 32.46% of the stock is owned by institutional investors and hedge funds.

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.