Primecap Management Co. CA Sells 89,030 Shares of Galapagos NV (NASDAQ:GLPG)

Primecap Management Co. CA lowered its holdings in shares of Galapagos NV (NASDAQ:GLPG - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,210 shares of the biotechnology company's stock after selling 89,030 shares during the quarter. Primecap Management Co. CA owned 0.96% of Galapagos worth $17,358,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Finepoint Capital LP raised its holdings in Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company's stock worth $16,058,000 after buying an additional 15,000 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Galapagos during the third quarter worth $410,000. GAMMA Investing LLC lifted its position in Galapagos by 77.4% in the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 974 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake 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 during the period. Finally, R Squared Ltd acquired a new position in Galapagos in the 4th quarter worth $26,000. Institutional investors own 32.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lowered Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, January 9th. Morgan Stanley cut Galapagos from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $31.00 to $22.00 in a research note on Friday, February 14th. Finally, Barclays reaffirmed an "underweight" rating on shares of Galapagos in a research note on Thursday, January 23rd. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $26.75.

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Galapagos Trading Up 0.5 %

Shares of Galapagos stock traded up $0.13 on Monday, reaching $25.95. 87,500 shares of the company were exchanged, compared to its average volume of 184,824. Galapagos NV has a one year low of $22.36 and a one year high of $33.00. The company has a 50-day moving average of $24.91 and a 200 day moving average of $27.01.

Galapagos 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.