Genmab A/S (NASDAQ:GMAB) Trading Down 3.5% – What’s Next?

Genmab A/S Sponsored ADR (NASDAQ:GMAB)’s share price dropped 3.5% during trading on Wednesday . The company traded as low as $30.38 and last traded at $30.3870. Approximately 482,335 shares changed hands during trading, a decline of 70% from the average daily volume of 1,608,695 shares. The stock had previously closed at $31.49.

Wall Street Analysts Forecast Growth

GMAB has been the subject of several research reports. HC Wainwright boosted their price target on Genmab A/S from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Guggenheim raised shares of Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, September 23rd. Truist Financial reissued a “buy” rating and issued a $48.00 price target (down from $49.00) on shares of Genmab A/S in a research note on Thursday, November 6th. Johnson Rice reaffirmed a “buy” rating on shares of Genmab A/S in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Genmab A/S in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Genmab A/S Trading Down 2.7%

The firm’s fifty day simple moving average is $30.88 and its two-hundred day simple moving average is $27.23. The company has a market capitalization of $19.69 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.48 by $0.17. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $975.40 million. Genmab A/S had a net margin of 41.36% and a return on equity of 23.98%. As a group, analysts forecast that Genmab A/S Sponsored ADR will post 1.45 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in Genmab A/S by 23.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,172 shares of the company’s stock worth $220,000 after buying an additional 1,363 shares during the period. Advisory Services Network LLC acquired a new position in shares of Genmab A/S in the 3rd quarter worth approximately $54,000. NewEdge Advisors LLC boosted its position in shares of Genmab A/S by 1,229.0% during the 3rd quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after purchasing an additional 1,143 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Genmab A/S by 24.8% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 3,153 shares of the company’s stock worth $92,000 after purchasing an additional 627 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Genmab A/S in the 3rd quarter valued at approximately $937,000. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Genmab A/S Company Profile

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.