Hudson Bay Capital Management LP Sells 553,400 Shares of Galapagos NV $GLPG

Hudson Bay Capital Management LP lessened its position in Galapagos NV (NASDAQ:GLPG) by 69.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,000 shares of the biotechnology company’s stock after selling 553,400 shares during the period. Hudson Bay Capital Management LP’s holdings in Galapagos were worth $8,487,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GLPG. National Bank of Canada FI bought a new stake in shares of Galapagos during the third quarter worth about $494,000. Bank of America Corp DE increased its stake in shares of Galapagos by 2.1% in the third quarter. Bank of America Corp DE now owns 30,949 shares of the biotechnology company’s stock valued at $1,072,000 after buying an additional 643 shares during the period. Aquatic Capital Management LLC raised its holdings in Galapagos by 63.6% in the 3rd quarter. Aquatic Capital Management LLC now owns 17,516 shares of the biotechnology company’s stock valued at $607,000 after buying an additional 6,807 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after buying an additional 1,362,229 shares during the last quarter. Finally, Man Group plc acquired a new stake in Galapagos during the 3rd quarter worth approximately $1,254,000. 32.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GLPG. Raymond James Financial reissued a “market perform” rating on shares of Galapagos in a report on Tuesday, February 24th. Weiss Ratings upgraded shares of Galapagos from a “sell (d)” rating to a “hold (c)” rating in a report on Thursday, February 26th. Sanford C. Bernstein assumed coverage on Galapagos in a report on Wednesday, November 26th. They issued a “hold” rating for the company. UBS Group reaffirmed a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada lifted their target price on Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.50.

Galapagos Price Performance

NASDAQ:GLPG opened at $32.53 on Friday. Galapagos NV has a fifty-two week low of $22.59 and a fifty-two week high of $37.78. The company has a 50 day simple moving average of $33.62 and a two-hundred day simple moving average of $32.85.

About Galapagos

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.