Galapagos NV (NASDAQ:GLPG) Short Interest Down 6.6% in October

Galapagos NV (NASDAQ:GLPG) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,420,000 shares, a decrease of 6.6% from the October 15th total of 1,520,000 shares. Based on an average trading volume of 178,400 shares, the short-interest ratio is presently 8.0 days. Currently, 2.2% of the shares of the company are short sold.

Galapagos Stock Up 2.5 %

Shares of GLPG stock traded up $0.67 on Monday, reaching $27.47. The company had a trading volume of 278,080 shares, compared to its average volume of 144,838. Galapagos has a one year low of $24.16 and a one year high of $42.46. The business’s 50-day moving average is $28.91 and its 200 day moving average is $27.59.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC increased its position in Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after purchasing an additional 91,366 shares during the period. DME Capital Management LP raised its stake 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 worth $5,819,000 after purchasing an additional 75,000 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Galapagos during the 3rd quarter worth $1,077,000. Creative Planning bought a new stake in Galapagos in the 2nd quarter valued at about $456,000. Finally, Millennium Management LLC increased its position in shares of 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. Institutional investors own 32.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Leerink Partners began coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target on the stock. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Royal Bank of Canada cut 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 report on Friday, November 1st. Finally, Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Galapagos has a consensus rating of “Hold” and an average price target of $30.75.

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.