Galapagos NV $GLPG Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Galapagos NV (NASDAQ:GLPG) by 64.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,500 shares of the biotechnology company’s stock after selling 92,810 shares during the period. Primecap Management Co. CA owned about 0.08% of Galapagos worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GLPG. State of Wyoming acquired a new stake in Galapagos during the second quarter valued at $28,000. GAMMA Investing LLC boosted its stake in shares of Galapagos by 79.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 652 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Galapagos during the 3rd quarter valued at about $212,000. Ascent Group LLC acquired a new stake in shares of Galapagos during the 3rd quarter valued at about $219,000. Finally, Geode Capital Management LLC purchased a new position in shares of Galapagos in the 2nd quarter valued at about $220,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Stock Performance

NASDAQ GLPG opened at $33.66 on Friday. The stock’s 50 day simple moving average is $33.61 and its 200-day simple moving average is $32.77. Galapagos NV has a 1-year low of $22.59 and a 1-year high of $37.78.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLPG. Raymond James Financial reiterated a “market perform” rating on shares of Galapagos in a research report on Tuesday. UBS Group reaffirmed a “market perform” rating on shares of Galapagos in a research note on Tuesday. Sanford C. Bernstein started coverage on Galapagos in a research report on Wednesday, November 26th. They set a “hold” rating on the stock. Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Galapagos has an average rating of “Hold” and an average target price of $36.50.

Galapagos Profile

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.