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

Genmab A/S (NASDAQ:GMAB)’s share price gapped down prior to trading 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.

Analysts Set New Price Targets

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

Genmab A/S Price Performance

The stock’s fifty day moving average price is $29.34 and its 200 day moving average price is $30.36. The stock has a market capitalization of $18.91 billion, a P/E ratio of 30.66, a PEG ratio of 2.12 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Wednesday, February 14th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Genmab A/S had a net margin of 26.50% and a return on equity of 18.06%. The business had revenue of $675.29 million for the quarter, compared to the consensus estimate of $678.14 million. On average, sell-side analysts expect that Genmab A/S will post 1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GMAB. GAMMA Investing LLC increased its holdings in Genmab A/S by 194.0% during the first quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after buying an additional 749 shares during the period. PNC Financial Services Group Inc. boosted its position in Genmab A/S by 5.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 165,187 shares of the company’s stock valued at $5,260,000 after acquiring an additional 8,463 shares in the last quarter. GTS Securities LLC purchased a new position in shares of Genmab A/S in the 4th quarter valued at $297,000. NFJ Investment Group LLC bought a new position in shares of Genmab A/S in the 4th quarter worth $904,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Genmab A/S during the 4th quarter worth $4,313,000. Hedge funds and other 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.