Galapagos (NASDAQ:GLPG) Sets New 52-Week Low – Here’s What Happened

Galapagos NV (NASDAQ:GLPG) reached a new 52-week low during trading on Monday . The company traded as low as $24.15 and last traded at $24.34, with a volume of 159430 shares changing hands. The stock had previously closed at $25.65.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLPG shares. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Finally, Royal Bank of Canada decreased their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Galapagos currently has an average rating of “Hold” and an average target price of $30.75.

Galapagos Stock Performance

The firm’s 50 day simple moving average is $27.13 and its 200 day simple moving average is $27.52.

Hedge Funds Weigh In On Galapagos

Several hedge funds have recently added to or reduced their stakes in GLPG. Stonepine Capital Management LLC raised its holdings in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares during the period. DME Capital Management LP grew its position in Galapagos by 46.9% in the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after acquiring an additional 75,000 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Galapagos in the third quarter worth $1,077,000. Creative Planning bought a new stake in shares of Galapagos during the second quarter worth $456,000. Finally, Millennium Management LLC lifted 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 worth $8,466,000 after purchasing an additional 17,089 shares during the last quarter. 32.46% of the stock is currently owned by institutional investors.

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.