Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Here’s What Happened

Shares of Galapagos NV (NASDAQ:GLPG) saw unusually-high trading volume on Thursday . Approximately 95,525 shares traded hands during trading, a decline of 32% from the previous session’s volume of 139,724 shares.The stock last traded at $27.90 and had previously closed at $27.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James downgraded Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Leerink Partners began coverage on shares of Galapagos in a research report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Finally, Royal Bank of Canada reduced their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Price Performance

The business has a 50-day moving average price of $28.91 and a 200 day moving average price of $27.61.

Institutional Trading of Galapagos

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC boosted its holdings in shares of Galapagos by 949.3% during the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 712 shares during the last quarter. GAMMA Investing LLC raised its holdings in Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 736 shares during the period. Signaturefd LLC lifted its position in Galapagos by 48.1% during the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 1,510 shares during the period. Finally, Rhumbline Advisers increased its position in Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 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.