Galapagos (NASDAQ:GLPG) Sets New 12-Month Low at $28.79

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $28.79 and last traded at $28.86, with a volume of 105558 shares traded. The stock had previously closed at $29.45.

Analyst Ratings Changes

Several research analysts have recently weighed in on GLPG shares. StockNews.com cut Galapagos from a "buy" rating to a "hold" rating in a research report on Monday, March 18th. Bank of America reaffirmed an "underperform" rating and set a $31.00 price objective (down from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $38.00 price target on shares of Galapagos in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Galapagos has an average rating of "Hold" and a consensus target price of $34.50.

Galapagos Price Performance

The firm has a 50-day moving average of $33.72 and a 200 day moving average of $36.36. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -12.62 and a beta of 0.24.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Galapagos by 173.8% in the third quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company's stock valued at $661,000 after buying an additional 12,154 shares during the period. FMR LLC raised its stake in Galapagos by 0.7% in the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company's stock valued at $149,176,000 after buying an additional 28,497 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Galapagos by 357.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company's stock valued at $92,000 after buying an additional 1,770 shares during the period. Citigroup Inc. raised its stake in Galapagos by 7,243.0% in the third quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company's stock valued at $3,133,000 after buying an additional 89,451 shares during the period. Finally, Hudson Bay Capital Management LP raised its stake in Galapagos by 7.7% in the third quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company's stock valued at $12,092,000 after buying an additional 25,000 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

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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