Genmab A/S (NASDAQ:GMAB) Shares Gap Down Following Analyst Downgrade

Genmab A/S (NASDAQ:GMAB) shares gapped down prior to trading on Tuesday after Truist Financial lowered their price target on the stock from $50.00 to $45.00. The stock had previously closed at $21.98, but opened at $20.71. Truist Financial currently has a buy rating on the stock. Genmab A/S shares last traded at $20.19, with a volume of 425,743 shares.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein upgraded Genmab A/S from a “strong sell” rating to a “hold” rating in a report on Friday, December 20th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Genmab A/S in a report on Thursday, January 23rd. BNP Paribas raised shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 11th. William Blair upgraded shares of Genmab A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, Leerink Partnrs upgraded shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Institutional Investors Weigh In On Genmab A/S

Institutional investors and hedge funds have recently made changes to their positions in the stock. Deep Track Capital LP acquired a new stake in Genmab A/S in the 4th quarter valued at approximately $41,740,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Genmab A/S in the fourth quarter valued at $33,804,000. Two Sigma Advisers LP raised its holdings in shares of Genmab A/S by 168.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,653,500 shares of the company’s stock valued at $34,509,000 after buying an additional 1,038,400 shares during the period. Two Sigma Investments LP lifted its stake in Genmab A/S by 122.2% during the 4th quarter. Two Sigma Investments LP now owns 1,706,364 shares of the company’s stock worth $35,612,000 after acquiring an additional 938,455 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Genmab A/S by 162.2% during the 4th quarter. Marshall Wace LLP now owns 1,122,296 shares of the company’s stock valued at $23,422,000 after acquiring an additional 694,243 shares during the period. 7.07% of the stock is owned by hedge funds and other institutional investors.

Genmab A/S Stock Performance

The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 2.65 and a beta of 0.98. The firm has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $22.52.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.29. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. As a group, equities analysts forecast that Genmab A/S will post 1.45 EPS for the current fiscal year.

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.