Galapagos (NASDAQ:GLPG) Shares Gap Down – Here’s What Happened

Shares of Galapagos NV (NASDAQ:GLPG) gapped down prior to trading on Wednesday . The stock had previously closed at $26.69, but opened at $25.90. Galapagos shares last traded at $26.08, with a volume of 147,448 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GLPG shares. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday. Leerink Partners started coverage on shares of Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price for the company. Royal Bank of Canada reduced their price objective on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Leerink Partnrs upgraded Galapagos to a “hold” rating in a research report on Monday, September 9th. Finally, Raymond James lowered Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Trading Down 1.8 %

The company has a fifty day moving average of $28.76 and a 200 day moving average of $27.54.

Institutional Trading of Galapagos

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC grew its holdings in Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 446 shares during the period. GAMMA Investing LLC lifted its stake in Galapagos by 140.7% during the third 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 during the last quarter. Rhumbline Advisers boosted its holdings in Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 shares in the last quarter. Signaturefd LLC grew its position in Galapagos by 48.1% in the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after buying an additional 1,258 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Galapagos by 63.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 1,510 shares in the last quarter. 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.