Galapagos NV (NASDAQ:GLPG) Sees Significant Decrease in Short Interest
by Tristan Rich · The Markets DailyGalapagos NV (NASDAQ:GLPG – Get Free Report) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 758,655 shares, a decline of 18.3% from the January 15th total of 928,021 shares. Based on an average daily trading volume, of 111,366 shares, the short-interest ratio is currently 6.8 days. Based on an average daily trading volume, of 111,366 shares, the short-interest ratio is currently 6.8 days.
Institutional Investors Weigh In On Galapagos
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLPG. XTX Topco Ltd bought a new position in Galapagos in the second quarter valued at approximately $1,114,000. EcoR1 Capital LLC boosted its holdings in shares of Galapagos by 569.0% in the 2nd quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after buying an additional 881,939 shares during the last quarter. Norges Bank acquired a new stake in shares of Galapagos in the 2nd quarter valued at approximately $3,359,000. Matauro LLC bought a new position in shares of Galapagos in the third quarter valued at $1,647,000. Finally, GAMMA Investing LLC increased its holdings in Galapagos by 79.4% during the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock worth $51,000 after buying an additional 652 shares during the last quarter. 32.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GLPG has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a research note on Thursday, January 22nd. Leerink Partners upgraded Galapagos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Wall Street Zen raised Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Sanford C. Bernstein assumed coverage on shares of Galapagos in a report on Wednesday, November 26th. They set a “hold” rating on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Galapagos currently has an average rating of “Hold” and an average target price of $36.00.
Check Out Our Latest Stock Analysis on GLPG
Galapagos Price Performance
Shares of GLPG traded up $0.49 during mid-day trading on Monday, hitting $33.92. 116,501 shares of the company’s stock were exchanged, compared to its average volume of 90,925. Galapagos has a 52 week low of $22.59 and a 52 week high of $37.78. The company has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $32.68.
Galapagos Company Profile
Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.
The company’s pipeline encompasses multiple programs across various stages of development.