Genmab A/S (NASDAQ:GMAB) Shares Gap Down to $32.46

Genmab A/S (NASDAQ:GMAB) gapped down prior to trading on Tuesday . The stock had previously closed at $32.46, but opened at $31.54. Genmab A/S shares last traded at $31.52, with a volume of 30,999 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on GMAB. BNP Paribas started coverage on shares of Genmab A/S in a research note on Wednesday, October 18th. They issued an “underperform” rating on the stock. Morgan Stanley restated an “underweight” rating on shares of Genmab A/S in a research report on Monday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of Genmab A/S in a research report on Monday. Nordea Equity Research lowered shares of Genmab A/S from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $757.00.

Genmab A/S Stock Down 3.4 %

The business has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $36.84. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 2.11 and a beta of 1.00.

Institutional Investors Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of GMAB. Alliancebernstein L.P. raised its stake in shares of Genmab A/S by 21.0% during the 2nd quarter. Alliancebernstein L.P. now owns 8,187,576 shares of the company’s stock worth $311,210,000 after buying an additional 1,420,915 shares during the last quarter. Millennium Management LLC increased its position in Genmab A/S by 655.9% during the 4th quarter. Millennium Management LLC now owns 919,408 shares of the company’s stock worth $38,965,000 after purchasing an additional 797,770 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Genmab A/S by 111.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,109,871 shares of the company’s stock worth $16,936,000 after purchasing an additional 585,924 shares in the last quarter. Morgan Stanley grew its holdings in Genmab A/S by 40.1% in the 4th quarter. Morgan Stanley now owns 1,215,861 shares of the company’s stock valued at $51,528,000 after buying an additional 347,824 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Genmab A/S by 11.1% in the 1st quarter. Macquarie Group Ltd. now owns 3,484,632 shares of the company’s stock valued at $131,580,000 after buying an additional 347,437 shares during the period. Institutional investors and hedge funds own 6.29% of the company’s stock.

About Genmab A/S

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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.