Galapagos (NASDAQ:GLPG) Shares Gap Up to $29.08

Galapagos NV (NASDAQ:GLPG) shares gapped up prior to trading on Thursday . The stock had previously closed at $29.08, but opened at $29.93. Galapagos shares last traded at $29.77, with a volume of 18,428 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLPG. Bank of America reissued an “underperform” rating and set a $31.00 target price (down from $41.00) on shares of Galapagos in a report on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and set a $38.00 target price on shares of Galapagos in a report on Monday, April 22nd. 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 and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $34.50.

Galapagos Trading Up 1.7 %

The firm’s 50-day moving average price is $31.07 and its 200 day moving average price is $35.74.

Hedge Funds Weigh In On Galapagos

A number of institutional investors and hedge funds have recently bought and sold shares of GLPG. Acadian Asset Management LLC boosted its position in shares of Galapagos by 173.8% during the 3rd quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company’s stock valued at $661,000 after purchasing an additional 12,154 shares in the last quarter. FMR LLC boosted its position in shares of Galapagos by 0.7% during the 3rd quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock valued at $149,176,000 after purchasing an additional 28,497 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Galapagos during the 4th quarter valued at about $44,000. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 valued at $92,000 after purchasing an additional 1,770 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Galapagos by 7,243.0% during the third quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock valued at $3,133,000 after buying an additional 89,451 shares in the last quarter. Institutional investors 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.