Galapagos (NASDAQ:GLPG) Sets New 1-Year Low – Time to Sell?

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLPG. Royal Bank of Canada dropped their price objective 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 cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Finally, Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Three investment 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 stock has an average rating of “Hold” and an average target price of $30.75.

Galapagos Trading Up 0.4 %

The stock’s fifty day moving average price is $26.70 and its two-hundred day moving average price is $27.45.

Institutional Trading of Galapagos

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Galapagos by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock valued at $6,710,000 after purchasing an additional 4,300 shares during the last quarter. XTX Topco Ltd bought a new position in Galapagos in the 2nd quarter valued at approximately $284,000. Marshall Wace LLP bought a new position in Galapagos in the 2nd quarter valued at approximately $315,000. Finally, DME Capital Management LP lifted its stake in Galapagos by 46.9% in 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. 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.