Galapagos (NASDAQ:GLPG) Shares Gap Up – Time to Buy?

Galapagos NV (NASDAQ:GLPG) shares gapped up before the market opened on Wednesday . The stock had previously closed at $28.79, but opened at $29.49. Galapagos shares last traded at $29.40, with a volume of 130,033 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Royal Bank of Canada cut their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, Galapagos has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 0.7 %

The stock’s fifty day moving average is $27.23 and its two-hundred day moving average is $27.49.

Institutional Investors Weigh In On Galapagos

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC grew its position in shares of Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares in the last quarter. GAMMA Investing LLC grew its holdings in Galapagos by 140.7% during the 3rd 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. China Universal Asset Management Co. Ltd. increased its position in shares of Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 1,510 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Galapagos by 65.6% during the third 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 last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

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.