BVF Inc. IL Cuts Stock Position in Galapagos NV $GLPG

Key Points

• BVF Inc. IL reduced its holdings in Galapagos NV by 7.3%, selling 115,000 shares, and now owns 1,454,422 shares valued at approximately $36.5 million.
• Several major investors, including BNP Paribas and Tang Capital Management, have increased their stakes in Galapagos, indicating significant interest from institutional players.
• Analyst ratings are predominantly negative, with a current average rating of "Strong Sell" and an average target price of $25.33 for the stock.

BVF Inc. IL cut its holdings in Galapagos NV (NASDAQ:GLPG - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454,422 shares of the biotechnology company's stock after selling 115,000 shares during the quarter. Galapagos accounts for 1.5% of BVF Inc. IL's investment portfolio, making the stock its 15th largest position. BVF Inc. IL owned about 2.21% of Galapagos worth $36,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GLPG. Tang Capital Management LLC increased its position in shares of Galapagos by 208.7% in the fourth quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company's stock valued at $59,433,000 after buying an additional 1,461,200 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Galapagos in the fourth quarter valued at approximately $21,471,000. OLD Mission Capital LLC purchased a new stake in shares of Galapagos in the first quarter valued at approximately $1,885,000. Tejara Capital Ltd purchased a new stake in shares of Galapagos in the first quarter valued at approximately $1,351,000. Finally, Woodline Partners LP purchased a new stake in shares of Galapagos in the fourth quarter valued at approximately $1,262,000. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen raised Galapagos from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Galapagos in a research note on Tuesday, August 5th. Three investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Sell" and an average price target of $25.33.

Galapagos Stock Performance

NASDAQ GLPG traded down $0.25 on Monday, reaching $33.12. 71,688 shares of the company were exchanged, compared to its average volume of 321,640. Galapagos NV has a fifty-two week low of $22.36 and a fifty-two week high of $33.86. The business's fifty day moving average price is $31.46 and its 200 day moving average price is $28.24.

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.