Genmab A/S (NASDAQ:GMAB) Sees Large Volume Increase – Here’s Why

Shares of Genmab A/S (NASDAQ:GMAB) saw unusually-strong trading volume on Wednesday . Approximately 1,146,722 shares changed hands during mid-day trading, an increase of 99% from the previous session’s volume of 577,457 shares.The stock last traded at $23.57 and had previously closed at $23.59.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Friday, September 20th. BTIG Research boosted their target price on Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley reissued an “equal weight” rating and set a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 11th. Redburn Atlantic started coverage on shares of Genmab A/S in a report on Tuesday. They issued a “buy” rating on the stock. Finally, Truist Financial decreased their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Genmab A/S currently has a consensus rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Trading Up 0.3 %

The firm’s 50 day simple moving average is $26.36 and its 200-day simple moving average is $27.44. The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 0.73 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. The company had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. As a group, equities research analysts predict that Genmab A/S will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Genmab A/S by 360.5% in the first quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock valued at $882,000 after purchasing an additional 23,094 shares during the period. Harding Loevner LP raised its holdings in Genmab A/S by 2.7% in the 4th quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock valued at $97,569,000 after acquiring an additional 85,665 shares during the period. Capital International Investors lifted its position in Genmab A/S by 7.8% during the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock worth $130,805,000 after acquiring an additional 315,355 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Genmab A/S by 26.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock worth $5,480,000 after acquiring an additional 45,376 shares during the period. Finally, Choreo LLC acquired a new position in shares of Genmab A/S in the second quarter valued at approximately $776,000. Institutional investors own 7.07% of the company’s stock.

Genmab A/S Company Profile

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.