Genmab A/S (NASDAQ:GMAB) Sees Large Volume Increase – Here’s What Happened

Genmab A/S (NASDAQ:GMAB) shares saw an uptick in trading volume on Thursday . 470,144 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 705,920 shares.The stock last traded at $20.58 and had previously closed at $20.45.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GMAB shares. Redburn Atlantic started coverage on shares of Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Truist Financial reduced their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. BMO Capital Markets restated an “outperform” rating and issued a $48.00 price objective (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Genmab A/S in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genmab A/S has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Price Performance

The stock has a market cap of $13.58 billion, a P/E ratio of 19.85, a P/E/G ratio of 0.64 and a beta of 0.99. The company’s 50 day simple moving average is $23.40 and its 200 day simple moving average is $26.00.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 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 company had revenue of $816.10 million for the quarter, compared to analyst estimates of $838.20 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts predict that Genmab A/S will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Genmab A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Wealth Asset Management LLC increased its stake in Genmab A/S by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock valued at $1,097,000 after buying an additional 471 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Genmab A/S by 7.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Genmab A/S by 137.7% in the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 544 shares during the last quarter. Eagle Asset Management Inc. increased its stake in Genmab A/S by 10.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company’s stock valued at $285,000 after buying an additional 1,121 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Genmab A/S by 7.1% in the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock valued at $470,000 after acquiring an additional 1,236 shares during the period. 7.07% of the stock is currently owned by institutional investors and hedge funds.

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.