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

Genmab A/S (NASDAQ:GMAB) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.64, but opened at $20.39. Genmab A/S shares last traded at $20.23, with a volume of 657,605 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on GMAB shares. Redburn Atlantic started coverage on Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. BMO Capital Markets reissued an “outperform” rating and set a $48.00 price target (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised Genmab A/S from a “strong sell” rating to a “hold” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Stock Performance

The stock has a market capitalization of $14.04 billion, a P/E ratio of 20.60, a PEG ratio of 0.59 and a beta of 0.97. The firm has a fifty day moving average price of $21.23 and a two-hundred day moving average price of $24.12.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. The business had revenue of $816.10 million during the quarter, compared to analysts’ expectations of $838.20 million. During the same quarter in the previous year, the company posted $0.47 EPS. On average, research analysts anticipate that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors have recently bought and sold shares of GMAB. GAMMA Investing LLC increased its stake in Genmab A/S by 96.6% in the 4th quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock worth $45,000 after buying an additional 1,051 shares in the last quarter. Blue Trust Inc. grew its position in shares of Genmab A/S by 892.0% during the third quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock valued at $108,000 after purchasing an additional 3,880 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Genmab A/S by 43.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock valued at $113,000 after purchasing an additional 1,413 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Genmab A/S by 7.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after purchasing an additional 478 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Genmab A/S during the third quarter valued at about $192,000. Hedge funds and other institutional investors own 7.07% of the company’s stock.

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.