Galapagos (NASDAQ:GLPG) Sets New 52-Week Low at $28.30

Galapagos NV (NASDAQ:GLPG) shares 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. The stock had previously closed at $28.45.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GLPG shares. Morgan Stanley restated an “equal weight” rating and issued a $38.00 target price on shares of Galapagos in a report on Monday, April 22nd. StockNews.com downgraded shares of Galapagos from a “buy” rating to a “hold” rating in a report on Monday, March 18th. Finally, Bank of America reiterated an “underperform” rating and issued a $31.00 target price (down previously from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Galapagos Price Performance

The company has a market capitalization of $1.94 billion, a P/E ratio of -12.86 and a beta of 0.27. The firm has a fifty day moving average price of $32.25 and a 200-day moving average price of $36.04.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its holdings in shares of Galapagos by 173.8% in the 3rd quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company’s stock worth $661,000 after buying an additional 12,154 shares during the last quarter. FMR LLC boosted its stake in Galapagos by 0.7% in the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock valued at $149,176,000 after acquiring an additional 28,497 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of 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 acquiring an additional 1,770 shares during the period. Citigroup Inc. increased its stake in shares of Galapagos by 7,243.0% during the 3rd quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock worth $3,133,000 after purchasing an additional 89,451 shares during the last quarter. Finally, Hudson Bay Capital Management LP increased its stake in shares of Galapagos by 7.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock worth $12,092,000 after purchasing an additional 25,000 shares during 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.