Galapagos (NASDAQ:GLPG) Sees Strong Trading Volume - What's Next?

Galapagos NV (NASDAQ:GLPG - Get Free Report) saw strong trading volume on Monday . 379,768 shares changed hands during mid-day trading, an increase of 96% from the previous session's volume of 193,615 shares.The stock last traded at $24.20 and had previously closed at $24.01.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays reissued an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. TD Cowen cut shares of Galapagos from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, January 9th. Finally, Morgan Stanley downgraded shares of Galapagos from an "equal weight" rating to an "underweight" rating and dropped their price objective 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.33.

Galapagos Price Performance

The business's 50-day moving average price is $25.34 and its 200-day moving average price is $26.35.

Institutional Investors Weigh In On Galapagos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLPG. GAMMA Investing LLC boosted its stake in shares of 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. boosted its position in Galapagos by 31.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company's stock worth $1,352,000 after purchasing an additional 11,777 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Galapagos by 5.9% during the 4th 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. Renaissance Technologies LLC increased its holdings in shares of Galapagos by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 296,100 shares of the biotechnology company's stock valued at $8,143,000 after purchasing an additional 4,421 shares in the last quarter. Finally, Gilead Sciences Inc. acquired a new position in shares of Galapagos in the 4th quarter valued at $461,727,000. 32.46% of the stock is 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.