Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Here’s Why

Shares of Galapagos NV (NASDAQ:GLPG) saw unusually-strong trading volume on Thursday . Approximately 95,525 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 139,724 shares.The stock last traded at $27.90 and had previously closed at $27.56.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GLPG shares. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Leerink Partners started coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective on the stock. 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 on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Trading Up 1.8 %

The business’s 50 day simple moving average is $28.93 and its 200 day simple moving average is $27.62.

Institutional Investors Weigh In On Galapagos

A number of institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its holdings in shares of Galapagos by 56.7% in the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $36,000 after buying an additional 736 shares during the period. Rhumbline Advisers lifted its position in shares of 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 purchasing an additional 814 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Galapagos by 48.1% in the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in 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 purchasing an additional 1,510 shares during the last quarter. 32.46% of the stock is owned by hedge funds and other 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.