Galapagos (NASDAQ:GLPG) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Galapagos NV (NASDAQ:GLPG) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.36 and traded as low as $27.12. Galapagos shares last traded at $27.38, with a volume of 66,817 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GLPG shares. Royal Bank of Canada cut their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a report on Monday, September 9th. Finally, Leerink Partners assumed coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.75.

Galapagos Stock Up 0.6 %

The business has a 50 day simple moving average of $27.58 and a two-hundred day simple moving average of $27.36.

Institutional Investors Weigh In On Galapagos

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC grew its position in Galapagos by 56.7% during 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 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 holdings 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. raised 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 acquiring an additional 1,510 shares during the period. Finally, Rhumbline Advisers grew its holdings in Galapagos by 21.6% during the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 814 shares in the last quarter. 32.46% of the stock is currently 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.