Millennium Management LLC Sells 225,079 Shares of Galapagos NV (NASDAQ:GLPG)

Millennium Management LLC decreased its stake in shares of Galapagos NV (NASDAQ:GLPG - Free Report) by 84.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,275 shares of the biotechnology company's stock after selling 225,079 shares during the quarter. Millennium Management LLC owned 0.06% of Galapagos worth $1,163,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gilead Sciences Inc. acquired a new stake in Galapagos during the fourth quarter worth about $461,727,000. Deep Track Capital LP bought a new stake in shares of Galapagos in the 4th quarter worth approximately $21,471,000. Norges Bank acquired a new stake in shares of Galapagos during the 4th quarter worth approximately $3,300,000. Finepoint Capital LP increased its position 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 valued at $18,556,000 after purchasing an additional 117,000 shares during the period. Finally, Hudson Bay Capital Management LP increased its position in shares of Galapagos by 8.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company's stock valued at $15,243,000 after purchasing an additional 44,300 shares during the period. Institutional investors and hedge funds own 32.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley downgraded shares of Galapagos from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. Wall Street Zen downgraded shares of Galapagos from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Five analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Galapagos has a consensus rating of "Reduce" and a consensus price target of $25.33.

Galapagos Price Performance

GLPG stock traded down $0.23 during trading on Friday, hitting $27.73. The company had a trading volume of 419,562 shares, compared to its average volume of 242,517. The company has a fifty day moving average price of $26.29 and a two-hundred day moving average price of $26.03. 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 data on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($2.24). The business had revenue of $97.33 million during the quarter, compared to the consensus estimate of $72.22 million. On average, analysts expect that Galapagos NV will post -1.6 earnings per share for the current fiscal year.

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.