Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low – Should You Sell?

Galapagos NV (NASDAQ:GLPG)’s share price hit a new 52-week low on Monday . The company traded as low as $22.58 and last traded at $22.97, with a volume of 73022 shares trading hands. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays reaffirmed an “underweight” rating on shares of Galapagos in a research note on Thursday, January 23rd. Royal Bank of Canada decreased 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 note on Friday, November 1st. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Price Performance

The company’s 50 day simple moving average is $26.25 and its 200 day simple moving average is $27.30.

Institutional Investors Weigh In On Galapagos

Several institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in Galapagos in the third quarter valued at $1,077,000. Creative Planning acquired a new position in shares of Galapagos during the second quarter worth about $456,000. Millennium Management LLC grew its position in Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after buying an additional 17,089 shares during the period. Finepoint Capital LP grew its position in Galapagos by 2.8% during the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after buying an additional 15,000 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Galapagos during the third quarter worth about $410,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.