Galapagos (NASDAQ:GLPG) Sets New 1-Year Low at $28.79

Galapagos NV (NASDAQ:GLPG) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $28.79 and last traded at $28.86, with a volume of 105558 shares traded. The stock had previously closed at $29.45.

Analysts Set New Price Targets

A number of research firms have recently commented on GLPG. Bank of America reissued an “underperform” rating and issued a $31.00 price objective (down previously from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a report on Monday, March 18th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $38.00 target price on shares of Galapagos in a research note on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.50.

Galapagos Stock Up 0.5 %

The business has a 50-day simple moving average of $33.30 and a two-hundred day simple moving average of $36.26. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -12.50 and a beta of 0.24.

Institutional Trading of Galapagos

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Galapagos by 173.8% during the 3rd quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company’s stock worth $661,000 after purchasing an additional 12,154 shares during the last quarter. FMR LLC grew its position in Galapagos by 0.7% during the 3rd quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after acquiring an additional 28,497 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Galapagos by 357.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock worth $92,000 after acquiring an additional 1,770 shares during the last quarter. Citigroup Inc. grew its position in Galapagos by 7,243.0% during the 3rd quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock worth $3,133,000 after acquiring an additional 89,451 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its holdings in Galapagos by 7.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock worth $12,092,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds 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.