Short Interest in Galapagos NV (NASDAQ:GLPG) Increases By 25.4%

Galapagos NV (NASDAQ:GLPG) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, a growth of 25.4% from the February 13th total of 1,730,000 shares. Based on an average daily volume of 262,700 shares, the days-to-cover ratio is currently 8.3 days. Approximately 4.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Galapagos

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealthedge Investment Advisors LLC acquired a new stake in Galapagos during the fourth quarter worth about $311,000. Woodline Partners LP acquired a new stake in Galapagos during the fourth quarter worth about $1,262,000. Tang Capital Management LLC grew its stake in Galapagos by 208.7% during the fourth quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock worth $59,433,000 after buying an additional 1,461,200 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in Galapagos by 8.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company’s stock worth $15,243,000 after buying an additional 44,300 shares in the last quarter. Finally, Deep Track Capital LP acquired a new stake in Galapagos during the fourth quarter worth about $21,471,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Galapagos Stock Performance

GLPG stock opened at $25.84 on Wednesday. The company’s 50-day simple moving average is $24.99 and its 200 day simple moving average is $27.07. Galapagos has a 52 week low of $22.36 and a 52 week high of $34.02.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays reissued an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Morgan Stanley lowered shares of Galapagos from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $31.00 to $22.00 in a research report on Friday, February 14th. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, TD Cowen downgraded shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Galapagos has an average rating of “Reduce” and a consensus price target of $26.75.

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.