Suvretta Capital Management LLC Sells 10,089 Shares of Galapagos NV (NASDAQ:GLPG)

Suvretta Capital Management LLC cut its stake in shares of Galapagos NV (NASDAQ:GLPG - Free Report) by 21.4% during the fourth quarter, according to its most recent disclosure with the SEC. 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 about 0.06% of Galapagos worth $1,021,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gilead Sciences Inc. acquired a new stake in shares of Galapagos during the 4th quarter valued at $461,727,000. Deep Track Capital LP acquired a new stake in Galapagos during the fourth quarter valued at $21,471,000. Norges Bank purchased a new position in Galapagos in the fourth quarter valued at about $3,300,000. Finepoint Capital LP increased its position in 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 last quarter. Finally, Hudson Bay Capital Management LP raised its stake in shares of Galapagos by 8.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company's stock worth $15,243,000 after purchasing an additional 44,300 shares in the last quarter. Institutional investors and hedge funds own 32.46% of the company's stock.

Galapagos Trading Up 3.5%

Shares of NASDAQ:GLPG traded up $0.99 during midday trading on Tuesday, hitting $28.90. The company's stock had a trading volume of 494,394 shares, compared to its average volume of 235,505. The stock's 50 day simple moving average is $25.54 and its 200 day simple moving average is $25.89. Galapagos NV has a fifty-two week low of $22.36 and a fifty-two week high of $31.23.

Galapagos (NASDAQ:GLPG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The company had revenue of $97.33 million during the quarter, compared to analysts' expectations of $72.22 million. Equities research analysts predict that Galapagos NV will post -1.6 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on GLPG shares. Barclays reissued an "underweight" rating on shares of Galapagos in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Galapagos from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Morgan Stanley cut Galapagos from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $31.00 to $22.00 in a research report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $25.33.

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.