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 changing hands.

Analysts Set New Price Targets

GMAB has been the subject of a number of recent analyst reports. Redburn Atlantic began coverage on Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 target price (up previously from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded Genmab A/S from a “strong sell” rating to a “hold” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Trading Up 4.9 %

The company has a market cap of $14.04 billion, a PE ratio of 20.60, a P/E/G ratio of 0.59 and a beta of 0.97. The firm has a 50 day moving average of $21.23 and a two-hundred day moving average of $24.12.

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

Institutional Trading of Genmab A/S

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its stake in Genmab A/S by 8.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 41,622 shares of the company’s stock valued at $868,000 after purchasing an additional 3,377 shares during the last quarter. GAMMA Investing LLC boosted its stake in Genmab A/S by 96.6% during the 4th quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock valued at $45,000 after purchasing an additional 1,051 shares during the last quarter. MML Investors Services LLC boosted its stake in Genmab A/S by 5.4% during the 3rd quarter. MML Investors Services LLC now owns 73,261 shares of the company’s stock valued at $1,786,000 after purchasing an additional 3,785 shares during the last quarter. XTX Topco Ltd boosted its stake in Genmab A/S by 116.4% during the 3rd quarter. XTX Topco Ltd now owns 25,429 shares of the company’s stock valued at $620,000 after purchasing an additional 13,678 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Genmab A/S by 84.1% during the 3rd quarter. Two Sigma Advisers LP now owns 615,100 shares of the company’s stock valued at $14,996,000 after purchasing an additional 280,900 shares during the last quarter. Hedge funds and other institutional investors own 7.07% 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; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.