Galapagos (NASDAQ:GLPG) Sees Strong Trading Volume – Here’s What Happened

Galapagos NV (NASDAQ:GLPG) shares saw unusually-strong trading volume on Wednesday . Approximately 268,143 shares changed hands during trading, an increase of 78% from the previous session’s volume of 150,408 shares.The stock last traded at $28.20 and had previously closed at $26.90.

Wall Street Analysts Forecast Growth

GLPG has been the subject of several recent analyst reports. Leerink Partners began coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price for the company. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Leerink Partnrs upgraded Galapagos to a “hold” rating in a report on Monday, September 9th. Royal Bank of Canada dropped their price target on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Galapagos currently has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Stock Performance

The company has a fifty day moving average price of $28.39 and a 200-day moving average price of $27.48.

Institutional Trading of Galapagos

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC lifted its stake in shares of Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC lifted 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 buying an additional 736 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,510 shares during the last quarter. Finally, 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 acquiring an additional 814 shares in the last quarter. 32.46% of the stock is currently owned by institutional investors and hedge funds.

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.