Galapagos (NASDAQ:GLPG) Sets New 12-Month Low - What's Next?

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $22.36 and last traded at $22.51, with a volume of 26245 shares trading hands. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays reaffirmed an "underweight" rating on shares of Galapagos in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price target on Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, November 1st. TD Cowen downgraded Galapagos from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, January 9th. Finally, Kepler Capital Markets downgraded Galapagos from a "hold" rating to a "reduce" rating in a research note on Wednesday, November 20th. Four 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, the company has an average rating of "Hold" and an average price target of $30.75.

Galapagos Stock Up 1.3 %

The company's 50 day moving average is $25.66 and its 200-day moving average is $27.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Finepoint Capital LP raised its holdings in 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 period. Crossmark Global Holdings Inc. grew its position in shares of Galapagos by 31.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company's stock valued at $1,352,000 after purchasing an additional 11,777 shares during the last quarter. American Century Companies Inc. increased its stake in shares of 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 purchasing an additional 1,431 shares during the period. Creative Planning increased its stake in shares of Galapagos by 18.8% during the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company's stock worth $630,000 after purchasing an additional 3,463 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Galapagos during the 3rd quarter worth approximately $410,000. 32.46% of the stock is currently owned by 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.