Tang Capital Management LLC Has $59.43 Million Position in Galapagos NV (NASDAQ:GLPG)

Tang Capital Management LLC grew its position in Galapagos NV (NASDAQ:GLPG - Free Report) by 208.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161,200 shares of the biotechnology company's stock after purchasing an additional 1,461,200 shares during the period. Galapagos makes up approximately 3.9% of Tang Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Tang Capital Management LLC owned 3.28% of Galapagos worth $59,433,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Gilead Sciences Inc. acquired a new position in shares of Galapagos during the 4th quarter worth about $461,727,000. Deep Track Capital LP bought a new position in Galapagos in the 4th quarter valued at about $21,471,000. Norges Bank bought a new position in shares of Galapagos during the fourth quarter worth approximately $3,300,000. Finepoint Capital LP lifted its holdings in shares of Galapagos by 21.0% during the fourth quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company's stock worth $18,556,000 after buying an additional 117,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in Galapagos by 8.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company's stock worth $15,243,000 after purchasing an additional 44,300 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLPG shares. Barclays reissued an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. Morgan Stanley cut shares of Galapagos from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $31.00 to $22.00 in a report on Friday, February 14th. Finally, StockNews.com lowered shares of Galapagos from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $25.33.

Galapagos Stock Performance

Shares of GLPG stock traded up $0.09 during mid-day trading on Wednesday, reaching $28.99. 534,736 shares of the stock traded hands, compared to its average volume of 237,117. The stock's fifty day simple moving average is $25.54 and its two-hundred day simple moving average is $25.89. Galapagos NV has a 1-year low of $22.36 and a 1-year high of $31.23.

Galapagos (NASDAQ:GLPG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The company had revenue of $97.33 million for the quarter, compared to the consensus estimate of $72.22 million. Equities research analysts forecast that Galapagos NV will post -1.6 EPS for the current year.

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.