Galapagos NV (NASDAQ:GLPG) Shares Acquired by Renaissance Technologies LLC

Posted by on Mar 5th, 2023

Renaissance Technologies LLC lifted its stake in shares of Galapagos NV (NASDAQ:GLPG – Get Rating) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 298,600 shares of the biotechnology company’s stock after acquiring an additional 50,300 shares during the quarter. Renaissance Technologies LLC owned about 0.45% of Galapagos worth $12,732,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Galapagos by 1.8% during the first quarter. Wellington Management Group LLP now owns 16,575 shares of the biotechnology company’s stock valued at $1,028,000 after acquiring an additional 293 shares during the period. Gabelli Funds LLC increased its stake in shares of Galapagos by 4.2% during the third quarter. Gabelli Funds LLC now owns 8,700 shares of the biotechnology company’s stock valued at $452,000 after acquiring an additional 350 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Galapagos during the first quarter valued at approximately $25,000. UBS Group AG grew its position in Galapagos by 58.5% in the third quarter. UBS Group AG now owns 1,509 shares of the biotechnology company’s stock worth $64,000 after buying an additional 557 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Galapagos by 147.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company’s stock worth $49,000 after buying an additional 676 shares during the last quarter. Institutional investors and hedge funds own 19.45% of the company’s stock.

Galapagos Price Performance

Shares of NASDAQ:GLPG opened at $36.84 on Friday. The company’s fifty day moving average is $42.79 and its two-hundred day moving average is $43.71. Galapagos NV has a 12-month low of $36.20 and a 12-month high of $72.11.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Galapagos from €65.00 ($69.15) to €50.00 ($53.19) and set a “neutral” rating on the stock in a research report on Monday, December 5th. Royal Bank of Canada decreased their price target on shares of Galapagos from $53.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Monday, February 27th. StockNews.com lowered shares of Galapagos from a “hold” rating to a “sell” rating in a research report on Monday, February 27th. Jefferies Financial Group upgraded shares of Galapagos from an “underperform” rating to a “hold” rating and decreased their price target for the stock from $49.00 to $47.20 in a research report on Monday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Galapagos from €50.00 ($53.19) to €40.00 ($42.55) in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Galapagos has an average rating of “Hold” and a consensus price target of $49.17.

About Galapagos

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Galapagos NV is a biotechnology company, which engages in the identification and development of small molecule and antibody therapies. Its clinical pipeline includes filgotinib, GLP3667, Toledo program, and idiopathic pulmonary fibrosis. The company was founded by Onno van de Stolpe, Rudi Pauwels, and Helmuth van Es on June 30, 1999 and is headquartered in Mechelen, Belgium.

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Institutional Ownership by Quarter for Galapagos (NASDAQ:GLPG)

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