Genmab A/S (NASDAQ:GMAB) Reaches New 52-Week Low at $24.94

Shares of Genmab A/S (NASDAQ:GMAB) reached a new 52-week low on Friday . The stock traded as low as $24.94 and last traded at $25.05, with a volume of 53077 shares traded. The stock had previously closed at $25.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GMAB shares. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research report on Thursday. Morgan Stanley reissued an “underweight” rating on shares of Genmab A/S in a research report on Tuesday, March 26th. BTIG Research increased their target price on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial raised their price objective on Genmab A/S from $50.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.50.

Genmab A/S Price Performance

The business has a 50-day simple moving average of $27.96 and a two-hundred day simple moving average of $29.11. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.93 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Genmab A/S had a return on equity of 18.90% and a net margin of 30.74%. The business had revenue of $603.30 million for the quarter, compared to analysts’ expectations of $594.23 million. As a group, equities analysts anticipate that Genmab A/S will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

A number of large investors have recently made changes to their positions in GMAB. HighTower Advisors LLC increased its position in Genmab A/S by 30.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,009 shares of the company’s stock worth $322,000 after buying an additional 2,114 shares during the period. Citigroup Inc. boosted its position in shares of Genmab A/S by 148.2% in the third quarter. Citigroup Inc. now owns 21,545 shares of the company’s stock valued at $760,000 after acquiring an additional 12,863 shares during the period. FMR LLC grew its stake in shares of Genmab A/S by 6.3% in the third quarter. FMR LLC now owns 422,437 shares of the company’s stock valued at $14,899,000 after acquiring an additional 24,936 shares in the last quarter. Mariner LLC increased its position in Genmab A/S by 183.4% during the third quarter. Mariner LLC now owns 49,018 shares of the company’s stock worth $1,729,000 after acquiring an additional 31,720 shares during the period. Finally, Northern Trust Corp raised its stake in Genmab A/S by 83.3% in the 3rd quarter. Northern Trust Corp now owns 559,044 shares of the company’s stock worth $19,717,000 after purchasing an additional 254,042 shares in the last quarter. Institutional investors own 7.07% of the company’s stock.

About Genmab A/S

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.