designer491
- Galapagos (NASDAQ:GLPG) shares are up ~10% in Monday trading after a large shareholder in the company said it believes the company is undervalued and wants to talk to management and the board about performance and strategic opportunities.
- EcoR1 Capital has a 9.9% stake in the Belgian company.
- The firm believes “that the securities of the Issuer are deeply undervalued and represent an attractive investment opportunity,” according to an SEC filing posted after the Aug. 23 closing bell.
- In addition, EcoR1 said it wants to discuss the board composition with Galapagos.
- Shares are down ~30% year to date.
