Galapagos (NASDAQ:GLPG) Hits New 1-Year Low at $28.30

Galapagos NV (NASDAQ:GLPG)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $28.30 and last traded at $28.73, with a volume of 5527 shares changing hands. The stock had previously closed at $28.45.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GLPG shares. Morgan Stanley reissued an “equal weight” rating and set a $38.00 price objective on shares of Galapagos in a research note on Monday, April 22nd. StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Finally, Bank of America restated an “underperform” rating and issued a $31.00 price target (down from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.50.

Galapagos Stock Performance

The company has a 50-day simple moving average of $32.64 and a 200-day simple moving average of $36.13.

Institutional Trading of Galapagos

Several institutional investors and hedge funds have recently made changes to their positions in GLPG. GAMMA Investing LLC purchased a new position in Galapagos in the 4th quarter worth about $44,000. Quadrant Capital Group LLC boosted its holdings in shares of Galapagos by 18.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 261 shares during the period. Tower Research Capital LLC TRC grew its stake in Galapagos by 2,317.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,934 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 1,854 shares in the last quarter. Signaturefd LLC increased its holdings in Galapagos by 78.6% during the 4th quarter. Signaturefd LLC now owns 1,970 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 867 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Galapagos by 357.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock valued at $92,000 after purchasing an additional 1,770 shares in the last quarter. 32.46% of the stock is currently owned by 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.