Galapagos (NASDAQ:GLPG) Reaches New 1-Year Low – Time to Sell?

Galapagos NV (NASDAQ:GLPG)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.43 and last traded at $23.75, with a volume of 74047 shares traded. The stock had previously closed at $23.61.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLPG. Barclays restated an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. TD Cowen downgraded 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 lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Galapagos presently has a consensus rating of “Hold” and an average target price of $30.75.

Galapagos Stock Performance

The company has a 50 day moving average price of $26.49 and a 200-day moving average price of $27.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GLPG. R Squared Ltd purchased a new stake in shares of Galapagos in the 4th quarter worth about $26,000. GAMMA Investing LLC grew its holdings in Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 736 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Galapagos by 63.2% during 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 purchasing an additional 1,510 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of 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 in 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.