Galapagos (NASDAQ:GLPG) Shares Gap Down – Time to Sell?

Galapagos NV (NASDAQ:GLPG) gapped down before the market opened on Friday . The stock had previously closed at $28.17, but opened at $27.00. Galapagos shares last traded at $26.52, with a volume of 67,673 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GLPG. Royal Bank of Canada reduced their target price 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. TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Three equities research 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 company presently has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Stock Down 8.7 %

The firm has a fifty day simple moving average of $27.26 and a two-hundred day simple moving average of $27.50.

Institutional Investors Weigh In On Galapagos

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC increased its holdings in shares of Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the last quarter. GAMMA Investing LLC increased its stake in Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 736 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. Rhumbline Advisers raised its position in Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Galapagos by 65.6% during 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 during the last quarter. 32.46% of the stock is owned by hedge funds and other 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.