Galapagos (NASDAQ:GLPG) Shares Gap Down – Should You Sell?

Galapagos NV (NASDAQ:GLPG) shares gapped down prior to trading on Thursday . The stock had previously closed at $28.59, but opened at $26.94. Galapagos shares last traded at $26.69, with a volume of 99,850 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLPG shares. Royal Bank of Canada reduced 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 report on Friday. Raymond James cut Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Leerink Partners initiated coverage on Galapagos in a research note on Monday, September 9th. They set a “market perform” rating and a $24.00 price target on the stock. Finally, Leerink Partnrs upgraded Galapagos to a “hold” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, Galapagos currently has an average rating of “Hold” and an average target price of $30.75.

Galapagos Stock Up 1.7 %

The business has a 50 day simple moving average of $29.22 and a 200-day simple moving average of $27.75.

Institutional Trading of Galapagos

Large investors have recently bought and sold shares of the business. QRG Capital Management Inc. acquired a new position in shares of Galapagos in the third quarter valued at approximately $247,000. China Universal Asset Management Co. Ltd. lifted its position in 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 valued at $112,000 after acquiring an additional 1,510 shares in the last quarter. Signaturefd LLC boosted its stake in Galapagos by 65.6% in the 3rd 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 period. Creative Planning increased its holdings in Galapagos by 18.8% during the 3rd quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock worth $630,000 after purchasing an additional 3,463 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares during the period. 32.46% of the stock is owned by 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.