Genmab A/S (NASDAQ:GMAB) Shares Gap Up – What’s Next?

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB) gapped up before the market opened on Tuesday . The stock had previously closed at $28.01, but opened at $29.02. Genmab A/S shares last traded at $28.8810, with a volume of 263,490 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GMAB shares. BNP Paribas Exane upgraded shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Truist Financial initiated coverage on shares of Genmab A/S in a report on Wednesday, May 27th. They issued a “buy” rating and a $40.00 price target for the company. The Goldman Sachs Group raised shares of Genmab A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 22nd. HC Wainwright increased their price objective on shares of Genmab A/S from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Wolfe Research initiated coverage on shares of Genmab A/S in a research report on Friday, March 27th. They set an “outperform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Genmab A/S has an average rating of “Moderate Buy” and an average target price of $38.21.

Genmab A/S Price Performance

The business has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $28.65. The company has a quick ratio of 2.17, a current ratio of 2.18 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its position in shares of Genmab A/S by 291.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 616 shares during the last quarter. Osaic Holdings Inc. grew its position in Genmab A/S by 37.8% during the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock valued at $33,000 after buying an additional 440 shares during the period. V Square Quantitative Management LLC purchased a new stake in Genmab A/S during the first quarter worth about $34,000. NewEdge Advisors LLC increased its holdings in Genmab A/S by 1,229.0% during the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after buying an additional 1,143 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Genmab A/S by 143.4% in the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after acquiring an additional 780 shares during the period. 7.07% of the stock is owned by institutional investors.

Genmab A/S Company Profile

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.