Galapagos (NASDAQ:GLPG) Sets New 12-Month High - What's Next?

Key Points

• Galapagos NV (NASDAQ:GLPG) reached a new 52-week high of $34.67, closing the day at $34.64 with a trading volume of 234,179 shares.
• Despite the stock's recent high, it holds a consensus rating of "Strong Sell" from analysts, with a price target of $26.00 according to MarketBeat data.
• Institutional ownership of Galapagos has increased, with various hedge funds significantly raising their stakes, indicating a growing interest in the company.

Galapagos NV (NASDAQ:GLPG - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $34.67 and last traded at $34.64, with a volume of 234179 shares trading hands. The stock had previously closed at $34.43.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLPG. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Galapagos in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Galapagos from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Sell" and a consensus price target of $26.00.

Galapagos Trading Up 0.6%

The company's fifty day moving average price is $32.52 and its two-hundred day moving average price is $29.00.

Institutional Trading of Galapagos

A number of hedge funds have recently made changes to their positions in GLPG. Bank of America Corp DE raised its stake in shares of Galapagos by 19.6% during 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. GAMMA Investing LLC boosted its holdings in Galapagos by 354.5% in the first quarter. GAMMA Investing LLC now owns 10,148 shares of the biotechnology company's stock worth $255,000 after purchasing an additional 7,915 shares during the period. Wealthquest Corp acquired a new position in Galapagos in the first quarter worth $74,000. Monaco Asset Management SAM lifted its stake in Galapagos by 140.2% in the first quarter. Monaco Asset Management SAM now owns 36,036 shares of the biotechnology company's stock valued at $905,000 after buying an additional 21,036 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in Galapagos in the first quarter valued at $333,000. Hedge funds and other institutional investors own 32.46% of the company's stock.

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.

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