Genmab A/S (NASDAQ:GMAB) Shares Gap Down – Here’s What Happened

Genmab A/S (NASDAQ:GMAB) shares gapped down prior to trading on Wednesday . The stock had previously closed at $21.64, but opened at $20.39. Genmab A/S shares last traded at $20.23, with a volume of 657,605 shares.

Wall Street Analyst Weigh In

GMAB has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Genmab A/S in a report on Wednesday, January 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $48.00 price objective (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Redburn Atlantic initiated coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Finally, Sanford C. Bernstein upgraded Genmab A/S from a “strong sell” rating to a “hold” rating in a report on Friday, December 20th. One equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Stock Performance

The business has a 50 day moving average price of $21.27 and a two-hundred day moving average price of $24.15. The company has a market cap of $13.39 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 0.63 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB) last released its 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). Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. During the same period last year, the firm posted $0.47 EPS. As a group, research analysts expect that Genmab A/S will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently modified their holdings of GMAB. Bank of New York Mellon Corp raised its position in Genmab A/S by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,171 shares of the company’s stock valued at $1,763,000 after purchasing an additional 3,283 shares during the last quarter. Rhumbline Advisers raised its position in Genmab A/S by 7.1% during the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock valued at $470,000 after purchasing an additional 1,236 shares during the last quarter. Acadian Asset Management LLC raised its position in Genmab A/S by 360.8% during the 2nd quarter. Acadian Asset Management LLC now owns 38,010 shares of the company’s stock valued at $954,000 after purchasing an additional 29,762 shares during the last quarter. Renaissance Technologies LLC raised its position in Genmab A/S by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock valued at $36,752,000 after purchasing an additional 103,859 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in 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 purchasing an additional 478 shares during the last quarter. 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.