Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume – Here’s What Happened

Genmab A/S Sponsored ADR (NASDAQ:GMAB) shares saw unusually-high trading volume on Wednesday . Approximately 2,746,555 shares were traded during mid-day trading, an increase of 51% from the previous session’s volume of 1,819,601 shares.The stock last traded at $26.3360 and had previously closed at $25.68.

Wall Street Analyst Weigh In

GMAB has been the subject of several recent analyst reports. HC Wainwright decreased their price objective on shares of Genmab A/S from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Guggenheim decreased their price objective on shares of Genmab A/S from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Truist Financial raised shares of Genmab A/S to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings cut shares of Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group initiated coverage on Genmab A/S in a research note on Tuesday, February 17th. They set a “buy” rating and a $41.50 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Genmab A/S presently has a consensus rating of “Moderate Buy” and an average target price of $39.07.

Genmab A/S Stock Performance

The company has a market capitalization of $16.89 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.54 and a beta of 0.86. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87. The stock’s 50-day moving average price is $26.99 and its 200-day moving average price is $29.73.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.41). Genmab A/S had a net margin of 21.05% and a return on equity of 15.34%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities analysts expect that Genmab A/S Sponsored ADR will post 1.19 EPS for the current year.

Hedge Funds Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paradigm Biocapital Advisors LP bought a new position in shares of Genmab A/S in the third quarter valued at approximately $117,063,000. Orbis Allan Gray Ltd grew its holdings in Genmab A/S by 30.2% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock worth $444,089,000 after acquiring an additional 3,340,456 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Genmab A/S by 36.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock worth $153,324,000 after acquiring an additional 1,334,919 shares during the period. First Trust Advisors LP grew its holdings in Genmab A/S by 84.3% during the first quarter. First Trust Advisors LP now owns 2,461,342 shares of the company’s stock worth $66,038,000 after acquiring an additional 1,126,069 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new position in Genmab A/S during the fourth quarter worth about $33,835,000. 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.