Galapagos (NASDAQ:GLPG) Sets New 12-Month Low at $28.79

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GLPG shares. StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. Bank of America reaffirmed an “underperform” rating and set a $31.00 price target (down from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price target on shares of Galapagos in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $34.50.

Galapagos Trading Down 2.3 %

The business has a fifty day simple moving average of $33.72 and a 200 day simple moving average of $36.36. The stock has a market capitalization of $1.90 billion, a P/E ratio of -12.62 and a beta of 0.24.

Institutional Trading of Galapagos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP bought a new position in shares of Galapagos in the fourth quarter valued at approximately $5,284,000. Stonepine Capital Management LLC grew its holdings in shares of Galapagos by 17.6% in the third quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock valued at $27,728,000 after acquiring an additional 119,880 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Galapagos by 7,243.0% in the third quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock valued at $3,133,000 after acquiring an additional 89,451 shares in the last quarter. FMR LLC grew its holdings in shares of Galapagos by 0.7% in the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock valued at $149,176,000 after acquiring an additional 28,497 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its holdings in shares of Galapagos by 7.7% in the third quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock valued at $12,092,000 after acquiring an additional 25,000 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

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.