Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Should You Sell?

Galapagos NV (NASDAQ:GLPG)’s stock price hit a new 52-week low on Monday . The stock traded as low as $22.58 and last traded at $22.97, with a volume of 73022 shares changing hands. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLPG. Barclays reiterated an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. TD Cowen downgraded shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Galapagos currently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Stock Down 1.0 %

The company’s 50 day moving average price is $26.25 and its 200-day moving average price is $27.30.

Hedge Funds Weigh In On Galapagos

Several hedge funds have recently made changes to their positions in GLPG. GAMMA Investing LLC increased its position in shares of Galapagos by 140.7% in the third 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. R Squared Ltd purchased a new position in shares of Galapagos in the fourth quarter worth approximately $26,000. China Universal Asset Management Co. Ltd. increased its position in shares of Galapagos by 63.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 1,510 shares in the last quarter. Signaturefd LLC increased its position in shares of Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 2,541 shares in the last quarter. Finally, Creative Planning increased its position in shares of Galapagos by 18.8% in the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock worth $630,000 after acquiring an additional 3,463 shares in the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

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.