Gilead Sciences Inc. Makes New Investment in Galapagos NV (NASDAQ:GLPG)

Gilead Sciences Inc. purchased a new stake in Galapagos NV (NASDAQ:GLPG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,707,477 shares of the biotechnology company's stock, valued at approximately $461,727,000. Galapagos accounts for about 29.8% of Gilead Sciences Inc.'s holdings, making the stock its 2nd biggest holding. Gilead Sciences Inc. owned 25.35% of Galapagos as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Finepoint Capital LP raised its position in shares of Galapagos by 21.0% during the fourth 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 period. Renaissance Technologies LLC increased its holdings in Galapagos by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 296,100 shares of the biotechnology company's stock worth $8,143,000 after purchasing an additional 4,421 shares in the last quarter. Norges Bank bought a new position in shares of Galapagos in the fourth quarter valued at approximately $3,300,000. Crossmark Global Holdings Inc. boosted its position in shares of Galapagos by 31.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company's stock valued at $1,352,000 after buying an additional 11,777 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Galapagos by 5.9% during the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company's stock worth $711,000 after buying an additional 1,431 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Galapagos Trading Up 1.5 %

GLPG traded up $0.37 on Wednesday, reaching $25.45. The company had a trading volume of 202,194 shares, compared to its average volume of 202,742. Galapagos NV has a 52-week low of $22.36 and a 52-week high of $31.23. The business has a 50 day simple moving average of $25.36 and a 200 day simple moving average of $26.26.

Analyst Ratings Changes

Several equities analysts have weighed in on GLPG shares. Barclays restated an "underweight" rating on shares of Galapagos in a research note on Thursday, January 23rd. TD Cowen downgraded Galapagos from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, January 9th. Finally, Morgan Stanley cut shares of 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. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.33.

Galapagos 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.