Millennium Management LLC Boosts Position in Galapagos NV (NASDAQ:GLPG)

Millennium Management LLC lifted its position in Galapagos NV (NASDAQ:GLPG) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,639 shares of the biotechnology company’s stock after buying an additional 17,089 shares during the quarter. Millennium Management LLC owned approximately 0.52% of Galapagos worth $8,466,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Headlands Technologies LLC grew its position in Galapagos by 949.3% during the first quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock worth $25,000 after buying an additional 712 shares in the last quarter. Signaturefd LLC boosted its position in shares of Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 1,258 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 814 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Galapagos by 66.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 3,769 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 1,504 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new stake in Galapagos in the fourth quarter valued at approximately $122,000. 32.46% of the stock is currently owned by institutional investors.

Galapagos Price Performance

GLPG stock opened at $29.34 on Thursday. Galapagos NV has a one year low of $24.16 and a one year high of $42.46. The company’s 50 day moving average price is $27.83 and its two-hundred day moving average price is $28.00.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Leerink Partners started coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target for the company. Raymond James lowered shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Leerink Partnrs upgraded Galapagos to a “hold” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Galapagos presently has an average rating of “Hold” and an average target price of $31.00.

Galapagos 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.