Galapagos NV (NASDAQ:GLPG) Holdings Lessened by Stonepine Capital Management LLC

Stonepine Capital Management LLC trimmed its stake in Galapagos NV (NASDAQ:GLPG) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 478,659 shares of the biotechnology company’s stock after selling 6,341 shares during the period. Galapagos comprises 8.7% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Stonepine Capital Management LLC’s holdings in Galapagos were worth $13,781,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in GLPG. DME Capital Management LP increased its position in shares of Galapagos by 46.9% in the 2nd 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 during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Galapagos in the third quarter valued at about $1,077,000. Creative Planning purchased a new stake in shares of Galapagos in the second quarter valued at about $456,000. Millennium Management LLC boosted its holdings in shares of Galapagos by 5.3% in the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after acquiring an additional 17,089 shares in the last quarter. Finally, Finepoint Capital LP boosted its holdings in Galapagos by 2.8% during the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after buying an additional 15,000 shares in the last quarter. 32.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLPG has been the topic of a number of research analyst reports. Leerink Partners assumed coverage on shares of Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 price objective on the stock. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a report on Monday, September 9th. 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 research note on Friday, November 1st. Finally, Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Galapagos currently has an average rating of “Hold” and a consensus price target of $30.75.

Galapagos Trading Up 3.3 %

GLPG traded up $0.88 during trading on Wednesday, hitting $27.78. The company had a trading volume of 27,437 shares, compared to its average volume of 149,347. Galapagos NV has a 1-year low of $24.16 and a 1-year high of $42.46. The business has a 50-day moving average of $28.48 and a 200-day moving average of $27.47.

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.