Galapagos (NASDAQ:GLPG) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Galapagos NV (NASDAQ:GLPG)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Galapagos Stock Up 0.6 %

The stock’s fifty day moving average price is $27.58 and its 200-day moving average price is $27.36.

Institutional Investors Weigh In On Galapagos

A number of institutional investors have recently made changes to their positions in the company. Stonepine Capital Management LLC raised its position in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after buying an additional 91,366 shares in the last quarter. DME Capital Management LP raised its stake in Galapagos by 46.9% in the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after purchasing an additional 75,000 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Galapagos in the 3rd quarter valued at about $1,077,000. Creative Planning bought a new stake in shares of Galapagos during the 2nd quarter worth approximately $456,000. Finally, Millennium Management LLC raised its position in Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after purchasing an additional 17,089 shares in the last quarter. 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.