Genmab A/S (NASDAQ:GMAB) Shares Up 1.7% – Here’s What Happened

Shares of Genmab A/S (NASDAQ:GMAB) traded up 1.7% on Friday . The company traded as high as $21.00 and last traded at $20.93. 160,347 shares traded hands during trading, a decline of 79% from the average session volume of 749,853 shares. The stock had previously closed at $20.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GMAB shares. Truist Financial reduced their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 11th. Sanford C. Bernstein upgraded shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, December 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 target price (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Finally, Redburn Atlantic began coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Stock Up 2.1 %

The firm’s 50 day moving average is $21.56 and its 200-day moving average is $24.52. The firm has a market cap of $13.91 billion, a PE ratio of 20.41, a P/E/G ratio of 0.67 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The business had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same period in the prior year, the company earned $0.47 EPS. On average, analysts forecast that Genmab A/S will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GMAB. Legacy Wealth Asset Management LLC grew its holdings in Genmab A/S by 1.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock valued at $1,097,000 after purchasing an additional 471 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Genmab A/S by 7.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Genmab A/S by 10.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company’s stock valued at $285,000 after buying an additional 1,121 shares during the period. Rhumbline Advisers increased its holdings in shares of Genmab A/S by 7.1% during the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock worth $470,000 after buying an additional 1,236 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Genmab A/S by 43.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock worth $113,000 after buying an additional 1,413 shares during the period. Institutional investors and hedge funds 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.