Galapagos NV (NASDAQ:GLPG) Stock Position Lowered by Stonepine Capital Management LLC

Stonepine Capital Management LLC cut its holdings in Galapagos NV (NASDAQ:GLPG) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,659 shares of the biotechnology company’s stock after selling 6,341 shares during the quarter. Galapagos makes up approximately 8.7% of Stonepine Capital Management LLC’s holdings, making the stock its 3rd largest holding. Stonepine Capital Management LLC owned about 0.73% of Galapagos worth $13,781,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Finepoint Capital LP raised its stake in Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after buying an additional 15,000 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Galapagos during the 3rd quarter valued at about $1,077,000. QRG Capital Management Inc. purchased a new stake in shares of Galapagos during the 3rd quarter valued at about $247,000. China Universal Asset Management Co. Ltd. raised its position in shares of Galapagos by 63.2% during 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 buying an additional 1,510 shares in the last quarter. Finally, Signaturefd LLC raised its position in Galapagos by 65.6% in the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares during the period. 32.46% of the stock is owned by institutional investors.

Galapagos Stock Performance

NASDAQ:GLPG traded up $0.88 on Wednesday, hitting $27.78. The stock had a trading volume of 27,437 shares, compared to its average volume of 149,347. The company has a fifty day moving average price of $28.48 and a two-hundred day moving average price of $27.47. Galapagos NV has a 1-year low of $24.16 and a 1-year high of $42.46.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLPG. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Leerink Partners began coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price for the company. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced 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, November 1st. Finally, Leerink Partnrs raised shares of Galapagos to a “hold” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.75.

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.