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

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB) gapped down before the market opened on Wednesday . The stock had previously closed at $34.40, but opened at $33.02. Genmab A/S shares last traded at $32.94, with a volume of 702,905 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of Genmab A/S in a report on Wednesday. Wall Street Zen upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research lowered Genmab A/S from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Truist Financial restated a “buy” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Genmab A/S in a research report on Thursday, November 6th. Finally, Johnson Rice reiterated a “buy” rating on shares of Genmab A/S in a report on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Genmab A/S Stock Down 4.7%

The company has a market cap of $21.07 billion, a PE ratio of 13.96, a PEG ratio of 18.85 and a beta of 0.90. The company’s fifty day moving average is $32.31 and its 200-day moving average is $28.91.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.17. Genmab A/S had a return on equity of 23.98% and a net margin of 41.36%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $975.40 million. Equities research analysts expect that Genmab A/S Sponsored ADR will post 1.45 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

A number of institutional investors and hedge funds have recently bought and sold shares of GMAB. M&T Bank Corp increased its stake in Genmab A/S by 88.8% in the 4th quarter. M&T Bank Corp now owns 15,034 shares of the company’s stock worth $463,000 after acquiring an additional 7,073 shares during the last quarter. Eagle Global Advisors LLC lifted its stake in Genmab A/S by 2.0% in the fourth quarter. Eagle Global Advisors LLC now owns 249,310 shares of the company’s stock worth $7,679,000 after purchasing an additional 4,840 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Genmab A/S by 14.0% during the 4th quarter. Evergreen Capital Management LLC now owns 22,350 shares of the company’s stock valued at $688,000 after acquiring an additional 2,752 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Genmab A/S by 75.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,840 shares of the company’s stock valued at $87,000 after purchasing an additional 1,219 shares during the period. Finally, CWM LLC increased its position in shares of Genmab A/S by 18.8% during the fourth quarter. CWM LLC now owns 2,739 shares of the company’s stock worth $84,000 after acquiring an additional 433 shares during the period. 7.07% of the stock is currently owned by institutional investors.

About Genmab A/S

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.