Genmab A/S (NASDAQ:GMAB) Shares Gap Down to $29.43

Genmab A/S (NASDAQ:GMAB) gapped down before the market opened on Wednesday . The stock had previously closed at $29.43, but opened at $28.78. Genmab A/S shares last traded at $28.83, with a volume of 30,523 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley restated an “underweight” rating on shares of Genmab A/S in a research note on Tuesday, March 26th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a research note on Thursday, April 4th. BMO Capital Markets upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $48.00 in a research note on Friday, February 23rd. Citigroup lowered Genmab A/S from a “neutral” rating to a “sell” rating in a research note on Monday, January 22nd. Finally, Truist Financial restated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.50.

Genmab A/S Stock Performance

The stock has a fifty day simple moving average of $29.36 and a two-hundred day simple moving average of $30.34. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 2.05 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Genmab A/S had a return on equity of 18.06% and a net margin of 26.50%. The company had revenue of $675.29 million for the quarter, compared to the consensus estimate of $678.14 million. Equities analysts expect that Genmab A/S will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several hedge funds have recently modified their holdings of GMAB. Alliancebernstein L.P. boosted its holdings in shares of Genmab A/S by 21.0% during the 2nd quarter. Alliancebernstein L.P. now owns 8,187,576 shares of the company’s stock valued at $311,210,000 after acquiring an additional 1,420,915 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Genmab A/S by 655.9% during the 4th quarter. Millennium Management LLC now owns 919,408 shares of the company’s stock valued at $38,965,000 after acquiring an additional 797,770 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Genmab A/S by 93.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 946,880 shares of the company’s stock valued at $33,396,000 after acquiring an additional 457,772 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Genmab A/S by 40.1% during the 4th quarter. Morgan Stanley now owns 1,215,861 shares of the company’s stock valued at $51,528,000 after acquiring an additional 347,824 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Genmab A/S by 11.1% during the 1st quarter. Macquarie Group Ltd. now owns 3,484,632 shares of the company’s stock worth $131,580,000 after buying an additional 347,437 shares during the period. Institutional investors and hedge funds 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.