Galapagos (NASDAQ:GLPG) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Galapagos NV (NASDAQ:GLPG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.36 and traded as low as $27.12. Galapagos shares last traded at $27.38, with a volume of 66,817 shares traded.

Wall Street Analysts Forecast Growth

GLPG has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Finally, Leerink Partners began coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, Galapagos currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Stock Performance

The company’s 50 day simple moving average is $27.45 and its 200 day simple moving average is $27.36.

Hedge Funds Weigh In On Galapagos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPG. Headlands Technologies LLC boosted its stake in Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 446 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares in the last quarter. Signaturefd LLC grew its stake in shares of Galapagos by 48.1% in the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 1,258 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 814 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.