Galapagos NV (NASDAQ:GLPG) Shares Sold by Suvretta Capital Management LLC

Suvretta Capital Management LLC trimmed its position in shares of Galapagos NV (NASDAQ:GLPG - Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,111 shares of the biotechnology company's stock after selling 10,089 shares during the period. Suvretta Capital Management LLC owned approximately 0.06% of Galapagos worth $1,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gilead Sciences Inc. purchased a new stake in shares of Galapagos in the 4th quarter valued at $461,727,000. Deep Track Capital LP purchased a new position in Galapagos during the 4th quarter valued at about $21,471,000. Norges Bank purchased a new position in Galapagos during the 4th quarter valued at about $3,300,000. Finepoint Capital LP boosted its holdings in Galapagos by 21.0% during the 4th quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company's stock valued at $18,556,000 after acquiring an additional 117,000 shares during the period. Finally, Hudson Bay Capital Management LP boosted its holdings in Galapagos by 8.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company's stock valued at $15,243,000 after acquiring an additional 44,300 shares during the period. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLPG has been the subject of a number of research analyst reports. Wall Street Zen cut Galapagos from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley cut Galapagos from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $31.00 to $22.00 in a report on Friday, February 14th. Finally, Barclays restated an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Galapagos currently has a consensus rating of "Reduce" and an average target price of $25.33.

Galapagos Stock Performance

Shares of GLPG stock traded down $0.33 on Thursday, reaching $28.66. 186,919 shares of the stock were exchanged, compared to its average volume of 236,945. The business's 50 day moving average price is $25.60 and its 200 day moving average price is $25.91. Galapagos NV has a twelve month low of $22.36 and a twelve month high of $31.23.

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 (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The firm had revenue of $97.33 million during the quarter, compared to analyst estimates of $72.22 million. Sell-side analysts predict that Galapagos NV will post -1.6 earnings per share for the current fiscal year.

About Galapagos

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.