Genmab A/S (NASDAQ:GMAB) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in shares of Genmab A/S (NASDAQ:GMAB) by 19.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,995 shares of the company’s stock after selling 92,934 shares during the period. Millennium Management LLC owned approximately 0.06% of Genmab A/S worth $9,574,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Genmab A/S by 360.5% during the 1st quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock worth $882,000 after buying an additional 23,094 shares in the last quarter. Harding Loevner LP raised its position in Genmab A/S by 2.7% in the fourth quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock worth $97,569,000 after acquiring an additional 85,665 shares in the last quarter. Capital International Investors lifted its holdings in Genmab A/S by 7.8% in the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after acquiring an additional 315,355 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Genmab A/S by 26.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock worth $5,480,000 after purchasing an additional 45,376 shares in the last quarter. Finally, Choreo LLC acquired a new position in shares of Genmab A/S during the 2nd quarter worth $776,000. Institutional investors and hedge funds own 7.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research note on Friday, September 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Redburn Atlantic assumed coverage on Genmab A/S in a report on Tuesday. They set a “buy” rating for the company. Finally, Truist Financial lowered their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Two 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’s stock. Based on data from MarketBeat.com, Genmab A/S presently has an average rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Stock Up 0.7 %

GMAB opened at $23.59 on Wednesday. The firm has a market cap of $15.60 billion, a P/E ratio of 19.67, a PEG ratio of 0.73 and a beta of 0.98. The business’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $27.49. Genmab A/S has a 52 week low of $23.24 and a 52 week high of $35.88.

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

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.