Prelude Capital Management LLC Sells 3,990 Shares of Galapagos NV (NASDAQ:GLPG)

Prelude Capital Management LLC cut its stake in shares of Galapagos NV (NASDAQ:GLPG) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,635 shares of the biotechnology company’s stock after selling 3,990 shares during the period. Prelude Capital Management LLC’s holdings in Galapagos were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in Galapagos in the 1st quarter valued at about $416,000. US Bancorp DE increased its position in shares of Galapagos by 83.6% during the first quarter. US Bancorp DE now owns 2,596 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 1,182 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Galapagos during the first quarter worth $25,000. BlackRock Inc. lifted its holdings in Galapagos by 46.8% during the first quarter. BlackRock Inc. now owns 517,611 shares of the biotechnology company’s stock worth $32,103,000 after acquiring an additional 164,912 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in Galapagos during the first quarter worth $250,000. 29.73% of the stock is owned by hedge funds and other institutional investors.

Galapagos Stock Performance

NASDAQ:GLPG opened at $35.95 on Tuesday. Galapagos NV has a 52-week low of $35.79 and a 52-week high of $48.20. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -15.10 and a beta of 0.28. The business’s fifty day moving average is $39.43 and its 200 day moving average is $39.89.

Galapagos (NASDAQ:GLPG) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $1.17. Galapagos had a negative return on equity of 2.86% and a negative net margin of 27.04%. The company had revenue of $163.24 million for the quarter, compared to analyst estimates of $109.88 million. Equities analysts predict that Galapagos NV will post -2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GLPG. 888 reiterated a “maintains” rating on shares of Galapagos in a report on Wednesday, May 31st. Citigroup lowered shares of Galapagos from a “buy” rating to a “neutral” rating in a research report on Thursday, August 24th. UBS Group initiated coverage on shares of Galapagos in a research report on Wednesday, May 31st. They issued a “neutral” rating on the stock. Morgan Stanley lowered their price objective on shares of Galapagos from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. Finally, StockNews.com assumed coverage on Galapagos in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Galapagos presently has an average rating of “Hold” and a consensus target price of $45.03.

Galapagos Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.