Galapagos (NASDAQ:GLPG) Shares Gap Up – Time to Buy?

Galapagos NV (NASDAQ:GLPG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $28.79, but opened at $29.49. Galapagos shares last traded at $29.40, with a volume of 130,033 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Royal Bank of Canada dropped their price objective 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, TD Cowen lowered Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Trading Down 8.9 %

The company’s fifty day moving average is $27.26 and its 200-day moving average is $27.50.

Institutional Trading of Galapagos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Galapagos by 77.4% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 974 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Galapagos during the 3rd quarter valued at about $410,000. Finepoint Capital LP increased its stake in shares of Galapagos by 2.8% in the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after purchasing an additional 15,000 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Galapagos in the 3rd quarter worth about $1,077,000. Finally, QRG Capital Management Inc. purchased a new position in Galapagos during the third quarter worth approximately $247,000. 32.46% of the stock is owned by institutional investors and hedge funds.

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.