Galapagos (NASDAQ:GLPG) Reaches New 1-Year Low at $29.45

Galapagos NV (NASDAQ:GLPG)’s share price reached a new 52-week low on Tuesday . The company traded as low as $29.45 and last traded at $29.49, with a volume of 16106 shares changing hands. The stock had previously closed at $29.80.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Galapagos in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $38.00 target price on the stock. Bank of America reaffirmed an “underperform” rating and issued a $31.00 target price (down from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. Finally, StockNews.com cut shares of Galapagos from a “buy” rating to a “hold” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Galapagos has an average rating of “Hold” and an average target price of $34.50.

Galapagos Stock Performance

The business’s 50 day simple moving average is $34.91 and its 200-day simple moving average is $36.59.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in Galapagos by 173.8% during the 3rd quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company’s stock worth $661,000 after purchasing an additional 12,154 shares during the last quarter. FMR LLC raised its holdings in Galapagos by 0.7% during the 3rd quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after purchasing an additional 28,497 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Galapagos by 357.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 1,770 shares during the last quarter. Citigroup Inc. raised its holdings in Galapagos by 7,243.0% during the 3rd quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock worth $3,133,000 after purchasing an additional 89,451 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in Galapagos by 7.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock worth $12,092,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors own 32.46% of the company’s stock.

About Galapagos

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.