Galapagos NV (NASDAQ:GLPG) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 25.1% in April to 1,371,531 shares (about 2.1% of shares outstanding) with a days-to-cover ratio of 8.5, indicating increased bearish positioning.
• Shares trading lower: GLPG was down 2% to $27.86, has a market cap of $1.84 billion, 50- and 200-day moving averages near $30.93 and $32.00, and a consensus analyst rating of "Hold" with an average price target of $36.50.
• Institutional activity: institutions own 32.46% of the company, with notable moves including XTX Topco increasing its stake by 92.6% and several firms (Boothbay, Engineers Gate, BNP Paribas) initiating or boosting positions recently.

Galapagos NV (NASDAQ:GLPG - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,371,531 shares, an increase of 25.1% from the March 31st total of 1,096,114 shares. Based on an average daily trading volume, of 160,808 shares, the days-to-cover ratio is presently 8.5 days. Approximately 2.1% of the company's shares are short sold.

Institutional Investors Weigh In On Galapagos

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd grew its holdings in Galapagos by 92.6% during the fourth quarter. XTX Topco Ltd now owns 23,219 shares of the biotechnology company's stock worth $759,000 after buying an additional 11,162 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Galapagos in the 2nd quarter valued at $612,000. Engineers Gate Manager LP bought a new position in Galapagos in the 2nd quarter valued at $560,000. National Bank of Canada FI bought a new position in Galapagos in the 3rd quarter valued at $494,000. Finally, BNP Paribas Financial Markets grew its stake in Galapagos by 81.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,854 shares of the biotechnology company's stock valued at $411,000 after purchasing an additional 5,305 shares during the period. Institutional investors own 32.46% of the company's stock.

Galapagos Trading Down 2.0%

Galapagos stock traded down $0.56 during trading on Wednesday, hitting $27.86. 222,765 shares of the company were exchanged, compared to its average volume of 140,891. The business's 50 day moving average is $30.93 and its 200 day moving average is $32.00. Galapagos has a 52 week low of $24.74 and a 52 week high of $37.78. The company has a market capitalization of $1.84 billion, a P/E ratio of -17.75 and a beta of 0.32.

Galapagos (NASDAQ:GLPG - Get Free Report) last announced its quarterly earnings results on Sunday, February 15th. The biotechnology company reported $13.92 earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion for the quarter. Equities analysts expect that Galapagos will post -6.97 EPS for the current year.

Analyst Upgrades and Downgrades

GLPG has been the topic of a number of research reports. UBS Group reaffirmed a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. Raymond James Financial reaffirmed a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. Wall Street Zen raised Galapagos from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Royal Bank Of Canada upped their target price on Galapagos from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised Galapagos from a "sell (d)" rating to a "hold (c)" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Galapagos currently has a consensus rating of "Hold" and an average price target of $36.50.

About Galapagos

Galapagos NV NASDAQ: GLPG is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company's discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company's pipeline encompasses multiple programs across various stages of development.

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