Weiss Ratings Reaffirms “Sell (D)” Rating for Galapagos (NASDAQ:GLPG)

Galapagos (NASDAQ:GLPG)‘s stock had its “sell (d)” rating reissued by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the company. Wall Street Zen upgraded Galapagos from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Galapagos in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Galapagos currently has an average rating of “Strong Sell” and a consensus price target of $26.00.

Galapagos Stock Performance

Shares of Galapagos stock opened at $34.50 on Wednesday. The business has a 50-day moving average price of $32.91 and a 200-day moving average price of $29.42. Galapagos has a twelve month low of $22.36 and a twelve month high of $37.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. EcoR1 Capital LLC boosted its holdings in Galapagos by 569.0% during the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock worth $29,024,000 after buying an additional 881,939 shares in the last quarter. Norges Bank acquired a new position in shares of Galapagos in the second quarter worth about $3,359,000. Jane Street Group LLC boosted its stake in shares of Galapagos by 2,245.7% during the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock worth $2,783,000 after acquiring an additional 115,946 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Galapagos by 5,613.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 79,135 shares of the biotechnology company’s stock worth $2,215,000 after acquiring an additional 77,750 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in shares of Galapagos during the 1st quarter valued at about $1,885,000. 32.46% of the stock is currently owned by hedge funds and other 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.