120,000 Shares in Galapagos NV (NASDAQ:GLPG) Acquired by Norges Bank

Norges Bank acquired a new position in shares of Galapagos NV (NASDAQ:GLPG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 120,000 shares of the biotechnology company's stock, valued at approximately $3,300,000. Norges Bank owned about 0.18% of Galapagos at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Galapagos in the 4th quarter valued at about $26,000. GAMMA Investing LLC grew its holdings in Galapagos by 77.4% in the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company's stock worth $61,000 after buying an additional 974 shares in the last quarter. American Century Companies Inc. raised its stake in Galapagos by 5.9% during the 4th quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company's stock valued at $711,000 after acquiring an additional 1,431 shares in the last quarter. QRG Capital Management Inc. boosted its position in Galapagos by 21.7% during the 4th quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company's stock worth $288,000 after acquiring an additional 1,866 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Galapagos by 31.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company's stock valued at $1,352,000 after purchasing an additional 11,777 shares during the period. 32.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLPG has been the subject of a number of research analyst reports. TD Cowen downgraded shares of Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, January 9th. Barclays restated an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. Finally, Morgan Stanley downgraded Galapagos from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $31.00 to $22.00 in a report on Friday, February 14th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $25.33.

Galapagos Stock Up 2.8 %

Shares of NASDAQ GLPG traded up $0.68 during mid-day trading on Wednesday, hitting $24.56. The company had a trading volume of 59,610 shares, compared to its average volume of 199,993. Galapagos NV has a 12 month low of $22.36 and a 12 month high of $31.23. The business's 50-day simple moving average is $25.28 and its 200-day simple moving average is $26.40.

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.