Galapagos (NASDAQ:GLPG) Hits New 1-Year Low – Here’s Why

Shares of Galapagos NV (NASDAQ:GLPG) reached a new 52-week low on Tuesday . The company traded as low as $23.43 and last traded at $23.75, with a volume of 74047 shares. The stock had previously closed at $23.61.

Analysts Set New Price Targets

GLPG has been the topic of a number of research reports. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Royal Bank of Canada reduced 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. Finally, Barclays reissued an “underweight” rating on shares of Galapagos in a research note on Thursday, January 23rd. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 0.7 %

The firm’s fifty day moving average price is $26.37 and its two-hundred day moving average price is $27.34.

Institutional Investors Weigh In On Galapagos

Several large investors have recently made changes to their positions in GLPG. Creative Planning bought a new stake in shares of Galapagos in the 2nd quarter worth about $456,000. GAMMA Investing LLC increased its position in Galapagos by 77.4% during the 4th 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 period. Crossmark Global Holdings Inc. purchased a new stake in Galapagos during the third quarter worth $1,077,000. Signaturefd LLC grew its stake in Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 2,541 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after buying an additional 17,089 shares during the last quarter. 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.