Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume

Genmab A/S (NASDAQ:GMAB) shares saw unusually-strong trading volume on Wednesday . Approximately 213,416 shares changed hands during trading, a decline of 64% from the previous session’s volume of 584,992 shares.The stock last traded at $28.32 and had previously closed at $28.21.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GMAB. Truist Financial upped their price objective on Genmab A/S from $50.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Royal Bank of Canada upgraded Genmab A/S from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 15th. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a research note on Thursday. Finally, BTIG Research lifted their price objective on Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Genmab A/S presently has a consensus rating of “Hold” and an average target price of $49.50.

Genmab A/S Price Performance

The firm has a 50-day moving average price of $26.94 and a 200 day moving average price of $28.33. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 1.01 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Genmab A/S had a return on equity of 18.90% and a net margin of 30.74%. The firm had revenue of $603.30 million for the quarter, compared to the consensus estimate of $594.23 million. On average, equities analysts anticipate that Genmab A/S will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pinnacle Bancorp Inc. lifted its position in shares of Genmab A/S by 315.8% during the 4th quarter. Pinnacle Bancorp Inc. now owns 840 shares of the company’s stock worth $27,000 after buying an additional 638 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Genmab A/S by 137.7% during the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after acquiring an additional 544 shares during the period. GAMMA Investing LLC grew its position in shares of Genmab A/S by 194.0% during the 1st quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after purchasing an additional 749 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Genmab A/S during the 1st quarter valued at $43,000. Finally, Principal Securities Inc. purchased a new position in Genmab A/S in the fourth quarter worth $77,000. 7.07% of the stock is owned by institutional investors.

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.