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

Shares of Galapagos NV (NASDAQ:GLPG) gapped down before the market opened on Friday . The stock had previously closed at $28.17, but opened at $27.00. Galapagos shares last traded at $26.52, with a volume of 67,673 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLPG. 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 Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen cut Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday. Three 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 currently has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Price Performance

The firm has a fifty day simple moving average of $27.26 and a two-hundred day simple moving average of $27.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GLPG. Stonepine Capital Management LLC boosted its stake in shares of Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after purchasing an additional 91,366 shares in the last quarter. DME Capital Management LP lifted its holdings in Galapagos by 46.9% in the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after buying an additional 75,000 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Galapagos during the 3rd quarter worth approximately $1,077,000. Creative Planning bought a new position in shares of Galapagos in the 2nd quarter worth approximately $456,000. Finally, Millennium Management LLC lifted its stake in shares of Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after purchasing an additional 17,089 shares during the period. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Company 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.