Genmab A/S (NASDAQ:GMAB) Hits New 52-Week Low – What’s Next?

Genmab A/S (NASDAQ:GMAB) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.39 and last traded at $22.41, with a volume of 44298 shares changing hands. The stock had previously closed at $22.78.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GMAB. Truist Financial dropped their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research report on Wednesday, October 16th. BTIG Research increased their price target on Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Redburn Atlantic started coverage on Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Stock Down 1.2 %

The stock has a fifty day moving average price of $25.66 and a 200-day moving average price of $27.01. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $779.50 million for the quarter, compared to analysts’ expectations of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. As a group, research analysts expect that Genmab A/S will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GMAB. Capital International Investors boosted its position in Genmab A/S by 7.8% during the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock worth $130,805,000 after purchasing an additional 315,355 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Genmab A/S by 7.6% in the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock valued at $36,752,000 after buying an additional 103,859 shares during the last quarter. DDD Partners LLC acquired a new position in Genmab A/S in the 2nd quarter valued at $8,860,000. Cubist Systematic Strategies LLC increased its stake in shares of Genmab A/S by 109.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock valued at $7,000,000 after acquiring an additional 145,689 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its position in shares of Genmab A/S by 29.3% in the second quarter. Ingalls & Snyder LLC now owns 229,700 shares of the company’s stock worth $5,772,000 after acquiring an additional 52,117 shares during the last quarter. Institutional investors and hedge funds 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.