Galapagos NV (NASDAQ:GLPG) Short Interest Up 5.6% in November

Galapagos NV (NASDAQ:GLPG) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,500,000 shares, a growth of 5.6% from the October 31st total of 1,420,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 202,400 shares, the short-interest ratio is currently 7.4 days.

Galapagos Price Performance

Shares of Galapagos stock opened at $27.49 on Wednesday. The business has a 50 day simple moving average of $28.29 and a two-hundred day simple moving average of $27.43. Galapagos has a 12 month low of $24.16 and a 12 month high of $42.46.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLPG. Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Leerink Partners began coverage on Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.75.

Institutional Investors Weigh In On Galapagos

Large investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its position in Galapagos by 0.7% during the second quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock worth $17,848,000 after buying an additional 5,000 shares in the last quarter. Finepoint Capital LP raised its holdings in shares of Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after acquiring an additional 15,000 shares during the period. Stonepine Capital Management LLC boosted its position in shares of 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 acquiring an additional 91,366 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Galapagos by 5.3% in the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after purchasing an additional 17,089 shares during the period. Finally, Renaissance Technologies LLC increased its position in Galapagos by 1.6% during the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after purchasing an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.