Wealthedge Investment Advisors LLC Takes Position in Galapagos NV (NASDAQ:GLPG)

Wealthedge Investment Advisors LLC bought a new position in shares of Galapagos NV (NASDAQ:GLPG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,301 shares of the biotechnology company's stock, valued at approximately $311,000.

Several other hedge funds have also recently modified their holdings of GLPG. R Squared Ltd bought a new position in shares of Galapagos during the 4th quarter worth approximately $26,000. QRG Capital Management Inc. lifted its position in shares of 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 buying an additional 1,866 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Galapagos by 5.9% in 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. Norges Bank bought a new stake in shares of Galapagos in the 4th quarter worth approximately $3,300,000. Finally, Finepoint Capital LP raised its holdings in shares of Galapagos by 21.0% in the 4th quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company's stock worth $18,556,000 after purchasing an additional 117,000 shares during the period. Institutional investors own 32.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GLPG. Morgan Stanley cut shares of Galapagos from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $31.00 to $22.00 in a report on Friday, February 14th. Wall Street Zen cut shares of Galapagos from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, Galapagos has an average rating of "Reduce" and an average target price of $25.33.

Galapagos Stock Up 1.5%

Galapagos stock traded up $0.44 during mid-day trading on Monday, reaching $29.20. The company's stock had a trading volume of 150,436 shares, compared to its average volume of 241,288. Galapagos NV has a 12-month low of $22.36 and a 12-month high of $31.23. The firm's fifty day moving average price is $26.11 and its two-hundred day moving average price is $25.99.

Galapagos (NASDAQ:GLPG - Get Free Report) last released its quarterly earnings data 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 company had revenue of $97.33 million for the quarter, compared to analyst estimates of $72.22 million. On average, analysts predict that Galapagos NV will post -1.6 earnings per share for the current year.

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.