Genmab A/S (NASDAQ:GMAB) Sees Large Volume Increase – Still a Buy?

Genmab A/S (NASDAQ:GMAB) shares saw strong trading volume on Monday . 345,719 shares changed hands during trading, a decline of 44% from the previous session’s volume of 620,495 shares.The stock last traded at $22.69 and had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GMAB. BTIG Research upped their target price on Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Redburn Atlantic started coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. Truist Financial dropped their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 15th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. 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. Based on data from MarketBeat.com, Genmab A/S presently has an average rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Trading Down 0.0 %

The stock has a market cap of $15.06 billion, a P/E ratio of 18.98, a P/E/G ratio of 0.71 and a beta of 0.98. The firm’s fifty day moving average is $25.58 and its 200 day moving average is $26.96.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. Research analysts forecast that Genmab A/S will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several hedge funds have recently modified their holdings of GMAB. Capital International Investors raised its stake in Genmab A/S by 7.8% during the 1st quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after purchasing an additional 315,355 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Genmab A/S by 7.6% during 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 bought a new stake in shares of Genmab A/S in the second quarter valued at about $8,860,000. Cubist Systematic Strategies LLC grew its position in Genmab A/S by 109.7% during the second quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock worth $7,000,000 after buying an additional 145,689 shares in the last quarter. Finally, Ingalls & Snyder LLC increased its stake in Genmab A/S by 29.3% during the second quarter. Ingalls & Snyder LLC now owns 229,700 shares of the company’s stock valued at $5,772,000 after acquiring an additional 52,117 shares during the period. 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.