Galapagos (NASDAQ:GLPG) Shares Gap Down - Time to Sell?

Galapagos NV (NASDAQ:GLPG - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $24.97, but opened at $23.94. Galapagos shares last traded at $24.25, with a volume of 92,471 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen lowered shares of Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, January 9th. Kepler Capital Markets lowered shares of Galapagos from a "hold" rating to a "reduce" rating in a report on Wednesday, November 20th. Royal Bank of Canada decreased their price objective on shares of Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Morgan Stanley downgraded shares of Galapagos from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $31.00 to $22.00 in a research report on Friday. Finally, Barclays reaffirmed an "underweight" rating on shares of Galapagos in a research report on Thursday, January 23rd. Five equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $26.75.

Galapagos Stock Performance

The company's 50-day moving average is $25.48 and its 200 day moving average is $27.05.

Institutional Trading of Galapagos

Several institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP grew its position in Galapagos by 8.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company's stock valued at $15,243,000 after purchasing an additional 44,300 shares during the last quarter. Deep Track Capital LP bought a new position in Galapagos during the 4th quarter valued at about $21,471,000. Bank of America Corp DE lifted its stake in Galapagos by 19.6% during the 4th quarter. Bank of America Corp DE now owns 22,454 shares of the biotechnology company's stock valued at $617,000 after acquiring an additional 3,684 shares during the period. BNP Paribas Financial Markets lifted its stake in Galapagos by 45.9% during the 4th quarter. BNP Paribas Financial Markets now owns 8,972 shares of the biotechnology company's stock valued at $247,000 after acquiring an additional 2,824 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Galapagos during the 4th quarter valued at about $726,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.