Primecap Management Co. CA Has $4.01 Million Stock Position in Galapagos NV $GLPG

Primecap Management Co. CA cut its holdings in shares of Galapagos NV (NASDAQ:GLPG) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,310 shares of the biotechnology company’s stock after selling 3,900 shares during the quarter. Primecap Management Co. CA’s holdings in Galapagos were worth $4,011,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GLPG. Monaco Asset Management SAM boosted its holdings in shares of Galapagos by 140.2% during the first quarter. Monaco Asset Management SAM now owns 36,036 shares of the biotechnology company’s stock worth $905,000 after purchasing an additional 21,036 shares during the period. Wealthquest Corp acquired a new position in Galapagos in the 1st quarter valued at approximately $74,000. ABC Arbitrage SA purchased a new stake in Galapagos in the 1st quarter worth approximately $333,000. Tejara Capital Ltd purchased a new stake in Galapagos in the 1st quarter worth approximately $1,351,000. Finally, American Century Companies Inc. boosted its stake in shares of Galapagos by 7.7% during the 1st quarter. American Century Companies Inc. now owns 27,839 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 1,987 shares during the period. Institutional investors and hedge funds own 32.46% of the company’s stock.

Galapagos Price Performance

NASDAQ GLPG opened at $30.24 on Friday. Galapagos NV has a fifty-two week low of $22.36 and a fifty-two week high of $37.78. The stock’s 50-day moving average is $32.75 and its two-hundred day moving average is $30.95. The firm has a market cap of $1.99 billion, a P/E ratio of -19.26 and a beta of 0.23.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GLPG shares. Wall Street Zen lowered Galapagos from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Royal Bank Of Canada upped their target price on Galapagos from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Galapagos in a report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a research note on Wednesday, October 8th. Finally, Leerink Partners set a $40.00 price objective on shares of Galapagos and gave the company an “outperform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $31.33.

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.