Galapagos (NASDAQ:GLPG) Shares Gap Down – Time to Sell?

Galapagos NV (NASDAQ:GLPG)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.59, but opened at $26.94. Galapagos shares last traded at $26.69, with a volume of 99,850 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GLPG shares. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Leerink Partners assumed coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target for the company. Finally, Leerink Partnrs raised shares of Galapagos to a “hold” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

Galapagos Price Performance

The business’s fifty day moving average price is $29.19 and its 200 day moving average price is $27.76.

Hedge Funds Weigh In On Galapagos

A number of institutional investors have recently modified their holdings of GLPG. BNP Paribas Financial Markets increased its holdings in shares of Galapagos by 783.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock valued at $172,000 after acquiring an additional 4,725 shares during the period. Headlands Technologies LLC increased its holdings in shares of Galapagos by 949.3% in the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 712 shares during the period. Monaco Asset Management SAM increased its holdings in shares of Galapagos by 148.3% in the 1st quarter. Monaco Asset Management SAM now owns 16,744 shares of the biotechnology company’s stock valued at $539,000 after acquiring an additional 10,000 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Galapagos by 18.5% in the 1st quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock valued at $488,000 after acquiring an additional 2,366 shares during the period. Finally, AlphaCentric Advisors LLC grew its position in Galapagos by 3.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 108,500 shares of the biotechnology company’s stock valued at $2,689,000 after buying an additional 3,500 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.