Short Interest in Galapagos NV (GLPG) Declines By 27.4%
Galapagos NV (NASDAQ:GLPG) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 403,300 shares, a drop of 27.4% from the August 31st total of 555,345 shares. Based on an average trading volume of 105,234 shares, the days-to-cover ratio is presently 3.8 days.
Shares of Galapagos NV (NASDAQ:GLPG) opened at 102.75 on Tuesday. The firm has a 50-day moving average price of $100.87 and a 200 day moving average price of $100.87. The stock’s market cap is $5.23 billion. Galapagos NV has a 12-month low of $57.16 and a 12-month high of $103.54.
A number of large investors have recently made changes to their positions in the stock. Cookson Peirce & Co. Inc. grew its stake in Galapagos NV by 0.7% in the second quarter. Cookson Peirce & Co. Inc. now owns 3,045 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 20 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Galapagos NV during the 2nd quarter worth $214,000. Cubist Systematic Strategies LLC purchased a new position in Galapagos NV during the 2nd quarter worth $704,000. EcoR1 Capital LLC increased its holdings in Galapagos NV by 5.0% during the 2nd quarter. EcoR1 Capital LLC now owns 578,505 shares of the biotechnology company’s stock worth $44,267,000 after purchasing an additional 27,464 shares during the period. Finally, DAFNA Capital Management LLC raised its position in Galapagos NV by 9.2% during the 2nd quarter. DAFNA Capital Management LLC now owns 38,609 shares of the biotechnology company’s stock valued at $2,954,000 after purchasing an additional 3,250 shares in the last quarter. 23.62% of the stock is currently owned by institutional investors.
GLPG has been the subject of several recent research reports. Zacks Investment Research downgraded Galapagos NV from a “hold” rating to a “sell” rating in a research report on Monday. Stifel Nicolaus upgraded shares of Galapagos NV from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $101.00 in a report on Friday, August 11th. Cowen and Company restated a “buy” rating on shares of Galapagos NV in a report on Thursday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Galapagos NV in a research note on Thursday, August 10th. Finally, BidaskClub downgraded shares of Galapagos NV from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Galapagos NV has a consensus rating of “Buy” and a consensus price target of $103.71.
About Galapagos NV
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
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