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

Galapagos NV (NASDAQ:GLPG - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $22.58 and last traded at $22.97, with a volume of 73022 shares trading hands. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced their price target on Galapagos from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Friday, November 1st. Kepler Capital Markets cut shares of Galapagos from a "hold" rating to a "reduce" rating in a report on Wednesday, November 20th. TD Cowen lowered shares of Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, January 9th. Finally, Barclays reissued an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, Galapagos presently has an average rating of "Hold" and an average price target of $30.75.

Galapagos Trading Up 0.8 %

The stock's 50-day simple moving average is $25.96 and its 200-day simple moving average is $27.21.

Institutional Trading of Galapagos

A number of hedge funds have recently made changes to their positions in GLPG. Creative Planning bought a new position in shares of Galapagos during the second quarter valued at $456,000. GAMMA Investing LLC raised its holdings in Galapagos by 77.4% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company's stock worth $61,000 after buying an additional 974 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Galapagos during the third quarter valued at approximately $1,077,000. Signaturefd LLC increased its position in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company's stock valued at $185,000 after acquiring an additional 2,541 shares in the last quarter. Finally, Millennium Management LLC raised its position in Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company's stock worth $8,466,000 after buying an additional 17,089 shares during the last quarter. 32.46% of the stock is 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.