Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Here’s Why

Galapagos NV (NASDAQ:GLPG)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $24.15 and last traded at $24.34, with a volume of 159430 shares. The stock had previously closed at $25.65.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. TD Cowen lowered Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Stock Down 5.8 %

The stock’s fifty day simple moving average is $27.23 and its 200-day simple moving average is $27.53.

Hedge Funds Weigh In On Galapagos

A number of hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA raised its holdings in Galapagos by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock worth $17,848,000 after purchasing an additional 5,000 shares during the last quarter. Finepoint Capital LP lifted its stake in Galapagos by 2.8% in the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after buying an additional 15,000 shares during the period. Stonepine Capital Management LLC boosted its holdings in shares of Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares in the last quarter. Millennium Management LLC grew its position in shares of Galapagos by 5.3% during the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after buying an additional 17,089 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Galapagos by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock valued at $6,710,000 after acquiring an additional 4,300 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.