Galapagos (NASDAQ:GLPG) Downgraded to “Sell” Rating by Deutsche Bank Aktiengesellschaft

Galapagos (NASDAQ:GLPG) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating in a report issued on Tuesday, Marketbeat reports.

Separately, Wall Street Zen upgraded Galapagos from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $25.33.

Galapagos Stock Performance

Shares of GLPG stock opened at $32.97 on Tuesday. Galapagos has a 52-week low of $22.36 and a 52-week high of $33.86. The stock’s 50-day moving average price is $29.80 and its 200 day moving average price is $26.97.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GLPG. American Century Companies Inc. lifted its stake in shares of Galapagos by 5.9% during the 4th quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company’s stock worth $711,000 after purchasing an additional 1,431 shares during the period. Norges Bank acquired a new stake in shares of Galapagos during the 4th quarter worth $3,300,000. Renaissance Technologies LLC increased its holdings in shares of Galapagos by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 296,100 shares of the biotechnology company’s stock worth $8,143,000 after buying an additional 4,421 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Galapagos by 137.8% during the 4th quarter. XTX Topco Ltd now owns 19,833 shares of the biotechnology company’s stock worth $545,000 after buying an additional 11,492 shares during the last quarter. Finally, Gilead Sciences Inc. acquired a new stake in shares of Galapagos during the 4th quarter worth $461,727,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.