Newtyn Management LLC Sells 230,000 Shares of Galapagos NV (NASDAQ:GLPG)

Newtyn Management LLC lessened its position in shares of Galapagos NV (NASDAQ:GLPG) by 46.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,000 shares of the biotechnology company’s stock after selling 230,000 shares during the period. Galapagos comprises 1.3% of Newtyn Management LLC’s holdings, making the stock its 23rd largest position. Newtyn Management LLC’s holdings in Galapagos were worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GLPG. Crossmark Global Holdings Inc. lifted its holdings in shares of Galapagos by 31.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company’s stock worth $1,352,000 after buying an additional 11,777 shares in the last quarter. R Squared Ltd bought a new position in shares of Galapagos during the 4th quarter worth approximately $26,000. QRG Capital Management Inc. increased its position in Galapagos by 21.7% in the 4th quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company’s stock valued at $288,000 after buying an additional 1,866 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Galapagos by 5.9% during the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company’s stock valued at $711,000 after buying an additional 1,431 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Galapagos during the fourth quarter valued at about $3,300,000. Institutional investors own 32.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GLPG. StockNews.com lowered Galapagos from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Barclays restated an “underweight” rating on shares of Galapagos in a report on Thursday, January 23rd. Finally, Morgan Stanley cut shares of Galapagos from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $31.00 to $22.00 in a report on Friday, February 14th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $25.33.

Galapagos Price Performance

Shares of GLPG stock opened at $26.84 on Wednesday. Galapagos NV has a twelve month low of $22.36 and a twelve month high of $31.23. The company’s 50-day moving average price is $25.39 and its 200-day moving average price is $25.90.

Galapagos (NASDAQ:GLPG) last announced its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($2.24). The business had revenue of $97.33 million during the quarter, compared to the consensus estimate of $72.22 million. Equities research analysts forecast that Galapagos NV will post -1.6 earnings per share for the current year.

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.