Galapagos (NASDAQ:GLPG) Shares Gap Down – Should You Sell?

Galapagos NV (NASDAQ:GLPG) gapped down before the market opened on Friday . The stock had previously closed at $28.17, but opened at $27.00. Galapagos shares last traded at $26.52, with a volume of 67,673 shares traded.

Analyst Ratings Changes

Several research firms recently commented on GLPG. Royal Bank of Canada reduced their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Galapagos presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Stock Performance

The stock’s 50 day simple moving average is $27.23 and its 200-day simple moving average is $27.51.

Institutional Trading of Galapagos

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Galapagos by 77.4% in the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 974 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Galapagos in the 3rd quarter valued at $410,000. Finepoint Capital LP boosted its holdings in shares of Galapagos by 2.8% in the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after acquiring an additional 15,000 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Galapagos in the 3rd quarter valued at $1,077,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Galapagos in the 3rd quarter valued at $247,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.