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

Tang Capital Management LLC raised its position in Galapagos NV (NASDAQ:GLPG - Free Report) by 208.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,161,200 shares of the biotechnology company's stock after purchasing an additional 1,461,200 shares during the quarter. Galapagos accounts for approximately 3.9% of Tang Capital Management LLC's portfolio, making the stock its 3rd largest holding. Tang Capital Management LLC owned about 3.28% of Galapagos worth $59,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in Galapagos in the fourth quarter valued at approximately $26,000. American Century Companies Inc. boosted its position in Galapagos by 5.9% during the 4th quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company's stock worth $711,000 after purchasing an additional 1,431 shares during the period. QRG Capital Management Inc. boosted its position in Galapagos by 21.7% during the 4th quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company's stock worth $288,000 after purchasing an additional 1,866 shares during the period. BNP Paribas Financial Markets increased its holdings in Galapagos by 45.9% in the 4th quarter. BNP Paribas Financial Markets now owns 8,972 shares of the biotechnology company's stock valued at $247,000 after purchasing an additional 2,824 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Galapagos by 19.6% in the fourth quarter. Bank of America Corp DE now owns 22,454 shares of the biotechnology company's stock valued at $617,000 after purchasing an additional 3,684 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

Galapagos Stock Performance

GLPG stock traded down $0.07 during trading on Friday, hitting $28.71. The company had a trading volume of 58,065 shares, compared to its average volume of 343,728. The business has a 50 day moving average of $25.66 and a 200 day moving average of $25.93. Galapagos NV has a fifty-two week low of $22.36 and a fifty-two week high of $31.23.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays reiterated an "underweight" rating on shares of Galapagos in a research note on Thursday, January 23rd. Morgan Stanley downgraded shares of Galapagos from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. Finally, Wall Street Zen downgraded Galapagos from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, Galapagos presently has a consensus rating of "Reduce" and an average target price of $25.33.

Galapagos 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.