Galapagos (NASDAQ:GLPG) Sees Unusually-High Trading Volume – What’s Next?

Galapagos NV (NASDAQ:GLPG) saw unusually-high trading volume on Wednesday . Approximately 268,143 shares changed hands during trading, an increase of 78% from the previous session’s volume of 150,408 shares.The stock last traded at $28.20 and had previously closed at $26.90.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a report on Monday, September 9th. Leerink Partners began coverage on shares of Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target for the company. Royal Bank of Canada cut their price objective on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Finally, Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Stock Up 4.5 %

The company’s 50 day simple moving average is $28.48 and its 200 day simple moving average is $27.47.

Institutional Trading of Galapagos

A number of hedge funds and other institutional investors have recently made changes to their positions in GLPG. Headlands Technologies LLC grew its stake in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 736 shares during the period. Signaturefd LLC grew its position in shares of Galapagos by 48.1% during the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,510 shares during the period. Finally, Rhumbline Advisers raised its position in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares during the last quarter. Institutional investors and hedge funds 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.