Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume – What’s Next?

Genmab A/S Sponsored ADR (NASDAQ:GMAB) saw strong trading volume on Friday . Approximately 1,119,952 shares changed hands during trading, a decline of 38% from the previous session’s volume of 1,795,576 shares.The stock last traded at $29.0240 and had previously closed at $29.78.

Analyst Ratings Changes

GMAB has been the topic of a number of research reports. HC Wainwright increased their price objective on Genmab A/S from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings lowered shares of Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. BNP Paribas Exane upgraded shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Wolfe Research assumed coverage on Genmab A/S in a report on Friday, March 27th. They set an “outperform” rating and a $32.00 target price for the company. Finally, Truist Financial started coverage on shares of Genmab A/S in a research note on Wednesday, May 27th. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.21.

Genmab A/S Price Performance

The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.90 and a beta of 0.84. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average price is $26.38 and its 200-day moving average price is $28.57.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Wealth Asset Management LLC lifted its stake in shares of Genmab A/S by 164.1% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock valued at $2,806,000 after purchasing an additional 63,484 shares during the last quarter. GAMMA Investing LLC raised its holdings in Genmab A/S by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock valued at $109,000 after buying an additional 561 shares during the period. Summitry LLC raised its holdings in Genmab A/S by 5.3% in the 1st quarter. Summitry LLC now owns 11,170 shares of the company’s stock valued at $300,000 after buying an additional 567 shares during the period. BankChampaign National Association acquired a new position in Genmab A/S in the first quarter valued at about $687,000. Finally, Strategic Investment Advisors MI acquired a new position in Genmab A/S in the first quarter valued at about $137,000. Hedge funds and other institutional investors own 7.07% of the company’s stock.

About Genmab A/S

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.