Wealthedge Investment Advisors LLC Purchases Shares of 11,301 Galapagos NV (NASDAQ:GLPG)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLPG. Gilead Sciences Inc. acquired a new stake in shares of Galapagos during the 4th quarter worth about $461,727,000. American Century Companies Inc. increased its position in shares of 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 in the last quarter. BNP Paribas Financial Markets increased its position in shares of Galapagos by 45.9% during the 4th quarter. BNP Paribas Financial Markets now owns 8,972 shares of the biotechnology company's stock worth $247,000 after purchasing an additional 2,824 shares in the last quarter. XTX Topco Ltd increased its position in shares of Galapagos by 137.8% during the 4th quarter. XTX Topco Ltd now owns 19,833 shares of the biotechnology company's stock worth $545,000 after purchasing an additional 11,492 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Galapagos by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 296,100 shares of the biotechnology company's stock worth $8,143,000 after purchasing an additional 4,421 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GLPG. Wall Street Zen cut shares of Galapagos from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley lowered 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 report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $25.33.

Galapagos Trading Down 0.2%

Galapagos stock traded down $0.07 during trading hours on Friday, reaching $29.02. 526,522 shares of the stock were exchanged, compared to its average volume of 241,273. Galapagos NV has a twelve month low of $22.36 and a twelve month high of $31.23. The stock has a 50 day moving average of $26.03 and a two-hundred day moving average of $26.00.

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 company had revenue of $97.33 million for the quarter, compared to analyst estimates of $72.22 million. On average, analysts forecast 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.