Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Here’s What Happened

Galapagos NV (NASDAQ:GLPG) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.46 and last traded at $23.71, with a volume of 14157 shares traded. The stock had previously closed at $23.76.

Wall Street Analyst Weigh In

A number of analysts have commented on GLPG shares. TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Stock Down 0.9 %

The company’s 50 day moving average price is $26.84 and its 200-day moving average price is $27.48.

Institutional Investors Weigh In On Galapagos

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC grew its holdings in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after acquiring an additional 91,366 shares in the last quarter. DME Capital Management LP increased its position in shares of Galapagos by 46.9% during the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after purchasing an additional 75,000 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Galapagos during the 3rd quarter worth $1,077,000. Creative Planning purchased a new position in shares of Galapagos in the 2nd quarter worth about $456,000. Finally, Millennium Management LLC grew its position in Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after buying an additional 17,089 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.