Galapagos (NASDAQ:GLPG) Hits New 52-Week Low - What's Next?

Galapagos NV (NASDAQ:GLPG - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $23.46 and last traded at $23.71, with a volume of 14157 shares traded. The stock had previously closed at $23.76.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Kepler Capital Markets downgraded Galapagos from a "hold" rating to a "reduce" rating in a research report on Wednesday, November 20th. TD Cowen lowered Galapagos from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, January 9th. Finally, Royal Bank of Canada lowered their price target on Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. 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, the company presently has a consensus rating of "Hold" and an average price target of $30.75.

Galapagos Stock Performance

The stock has a 50-day simple moving average of $26.77 and a 200 day simple moving average of $27.47.

Institutional Trading of Galapagos

Several institutional investors and hedge funds have recently bought and sold shares of GLPG. GAMMA Investing LLC raised its position in Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 736 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Galapagos by 21.6% during the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company's stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company's stock valued at $112,000 after purchasing an additional 1,510 shares during the period. Signaturefd LLC boosted its holdings in Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company's stock worth $185,000 after buying an additional 2,541 shares in the last quarter. Finally, Creative Planning grew its position in Galapagos by 18.8% during the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company's stock valued at $630,000 after buying an additional 3,463 shares during the period. 32.46% of the stock is currently owned by institutional investors and hedge funds.

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.