Galapagos NV (NASDAQ:GLPG) Short Interest Down 6.6% in October

Galapagos NV (NASDAQ:GLPG) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,420,000 shares, a decline of 6.6% from the October 15th total of 1,520,000 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 178,400 shares, the short-interest ratio is currently 8.0 days.

Galapagos Price Performance

NASDAQ:GLPG opened at $27.00 on Tuesday. Galapagos has a 12 month low of $24.16 and a 12 month high of $42.46. The business’s fifty day moving average price is $28.88 and its 200 day moving average price is $27.57.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC raised its position in Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC raised its position in Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 736 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares in the last quarter. Signaturefd LLC boosted its position in Galapagos by 48.1% during the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of 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 valued at $112,000 after acquiring an additional 1,510 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Leerink Partners started coverage on Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.75.

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.