Galapagos (NASDAQ:GLPG) Sees Large Volume Increase - Here's Why

Galapagos NV (NASDAQ:GLPG - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 225,234 shares changed hands during mid-day trading, an increase of 67% from the previous session's volume of 134,623 shares.The stock last traded at $27.02 and had previously closed at $26.44.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLPG. Raymond James downgraded Galapagos from an "outperform" rating to a "market perform" rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on shares of Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday. Leerink Partnrs raised shares of Galapagos to a "hold" rating in a report on Monday, September 9th. Finally, Leerink Partners began coverage on shares of Galapagos in a research note on Monday, September 9th. They set a "market perform" rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, Galapagos presently has a consensus rating of "Hold" and a consensus price target of $30.75.

Galapagos Stock Performance

The firm's 50 day moving average is $29.22 and its two-hundred day moving average is $27.75.

Hedge Funds Weigh In On Galapagos

A number of large investors have recently made changes to their positions in GLPG. Headlands Technologies LLC lifted its stake in shares of Galapagos by 949.3% in the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 712 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 736 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company's stock valued at $96,000 after acquiring an additional 1,258 shares during the last quarter. China Universal Asset Management Co. Ltd. raised 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 acquiring an additional 1,510 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company's stock worth $113,000 after purchasing an additional 814 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company's stock.

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.