Galapagos (NASDAQ:GLPG) Shares Gap Down – Should You Sell?

Galapagos NV (NASDAQ:GLPG) gapped down prior to trading on Thursday . The stock had previously closed at $24.97, but opened at $23.94. Galapagos shares last traded at $24.25, with a volume of 92,471 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on GLPG shares. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Barclays restated an “underweight” rating on shares of Galapagos in a report on Thursday, January 23rd. TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, January 9th. Royal Bank of Canada dropped their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley lowered shares of Galapagos from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $31.00 to $22.00 in a research note on Friday. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, Galapagos currently has an average rating of “Hold” and an average target price of $26.75.

Galapagos Stock Down 0.2 %

The business’s fifty day simple moving average is $25.48 and its 200 day simple moving average is $27.05.

Hedge Funds Weigh In On Galapagos

Several institutional investors and hedge funds have recently bought and sold shares of GLPG. R Squared Ltd bought a new stake in shares of Galapagos in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in shares of Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 736 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in 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. Signaturefd LLC lifted its holdings in Galapagos by 65.6% in the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of Galapagos during the third quarter worth approximately $247,000. Hedge funds and other institutional investors 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.