Primecap Management Co. CA Sells 89,030 Shares of Galapagos NV (NASDAQ:GLPG)

Primecap Management Co. CA decreased its holdings in shares of Galapagos NV (NASDAQ:GLPG) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631,210 shares of the biotechnology company’s stock after selling 89,030 shares during the period. Primecap Management Co. CA’s holdings in Galapagos were worth $17,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in shares of Galapagos by 21.7% during the fourth quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company’s stock valued at $288,000 after acquiring an additional 1,866 shares in the last quarter. R Squared Ltd bought a new position in Galapagos in the 4th quarter worth $26,000. Crossmark Global Holdings Inc. lifted its position in shares of Galapagos by 31.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company’s stock worth $1,352,000 after purchasing an additional 11,777 shares during the period. GAMMA Investing LLC boosted its stake in shares of Galapagos by 77.4% during the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 974 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Galapagos during the third quarter valued at about $410,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPG has been the topic of several research reports. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. TD Cowen cut Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Morgan Stanley lowered Galapagos from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $31.00 to $22.00 in a research report on Friday, February 14th. Finally, Barclays reaffirmed an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $26.75.

Galapagos Price Performance

NASDAQ GLPG opened at $26.10 on Thursday. Galapagos NV has a 12 month low of $22.36 and a 12 month high of $34.02. The stock’s fifty day moving average price is $24.95 and its 200-day moving average price is $27.07.

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.