Genmab A/S (NASDAQ:GMAB) Shares Gap Down – Here’s Why

Genmab A/S (NASDAQ:GMAB) shares gapped down before the market opened on Tuesday . The stock had previously closed at $21.77, but opened at $21.13. Genmab A/S shares last traded at $21.27, with a volume of 278,200 shares changing hands.

Wall Street Analysts Forecast Growth

GMAB has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective (down from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. William Blair raised shares of Genmab A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 11th. Sanford C. Bernstein downgraded shares of Genmab A/S from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 1st. Truist Financial decreased their price objective on shares of Genmab A/S from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Finally, Leerink Partnrs raised shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Genmab A/S has a consensus rating of “Moderate Buy” and an average target price of $39.17.

Genmab A/S Price Performance

The company’s 50 day moving average price is $20.02 and its two-hundred day moving average price is $20.65. The stock has a market capitalization of $13.97 billion, a PE ratio of 12.52, a P/E/G ratio of 2.65 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $715.00 million for the quarter, compared to the consensus estimate of $5.17 billion. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. Analysts forecast that Genmab A/S will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

Several hedge funds and other institutional investors have recently modified their holdings of the business. Orbis Allan Gray Ltd raised its stake in Genmab A/S by 102.8% during the first quarter. Orbis Allan Gray Ltd now owns 5,710,741 shares of the company’s stock worth $111,816,000 after purchasing an additional 2,895,179 shares during the period. Deep Track Capital LP purchased a new position in Genmab A/S during the fourth quarter worth about $41,740,000. Renaissance Technologies LLC raised its stake in Genmab A/S by 7.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,926,150 shares of the company’s stock worth $40,199,000 after purchasing an additional 139,722 shares during the period. Brandywine Global Investment Management LLC raised its stake in Genmab A/S by 6.0% during the first quarter. Brandywine Global Investment Management LLC now owns 1,717,397 shares of the company’s stock worth $33,627,000 after purchasing an additional 97,633 shares during the period. Finally, Two Sigma Investments LP raised its stake in Genmab A/S by 122.2% during the fourth quarter. Two Sigma Investments LP now owns 1,706,364 shares of the company’s stock worth $35,612,000 after purchasing an additional 938,455 shares during the period. 7.07% of the stock is owned by hedge funds and other 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.