Short Interest in Galapagos NV (NASDAQ:GLPG) Expands By 5.6%

Galapagos NV (NASDAQ:GLPG) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,500,000 shares, a growth of 5.6% from the October 31st total of 1,420,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 202,400 shares, the days-to-cover ratio is presently 7.4 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Royal Bank of Canada lowered their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, Leerink Partners assumed coverage on Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Galapagos presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 1.8 %

NASDAQ:GLPG opened at $27.49 on Wednesday. The stock has a fifty day simple moving average of $28.29 and a 200-day simple moving average of $27.43. Galapagos has a twelve month low of $24.16 and a twelve month high of $42.46.

Institutional Investors Weigh In On Galapagos

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its position in shares of Galapagos by 0.7% during the second quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock worth $17,848,000 after acquiring an additional 5,000 shares during the period. Finepoint Capital LP increased its holdings in Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after purchasing an additional 15,000 shares during the period. Stonepine Capital Management LLC raised its position in Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after purchasing an additional 91,366 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Galapagos by 5.3% in 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 grew its position in shares of Galapagos by 1.6% during the 2nd quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after buying an additional 4,300 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

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.