Avidity Partners Management LP Lowers Stake in Genmab A/S Sponsored ADR $GMAB

Avidity Partners Management LP reduced its position in shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB) by 62.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,000 shares of the company’s stock after selling 156,100 shares during the quarter. Genmab A/S accounts for approximately 0.8% of Avidity Partners Management LP’s investment portfolio, making the stock its 28th biggest holding. Avidity Partners Management LP’s holdings in Genmab A/S were worth $2,834,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. lifted its stake in Genmab A/S by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock valued at $335,957,000 after buying an additional 291,538 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in Genmab A/S by 38.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 7,920,400 shares of the company’s stock valued at $163,635,000 after buying an additional 2,209,659 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Genmab A/S by 36.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock valued at $153,324,000 after buying an additional 1,334,919 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new position in Genmab A/S in the 3rd quarter valued at about $117,063,000. Finally, Renaissance Technologies LLC lifted its stake in Genmab A/S by 23.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,492,850 shares of the company’s stock valued at $107,580,000 after buying an additional 671,307 shares in the last quarter. 7.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GMAB. Jefferies Financial Group began coverage on shares of Genmab A/S in a research note on Tuesday, February 17th. They issued a “buy” rating and a $41.50 price target on the stock. The Goldman Sachs Group raised shares of Genmab A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 22nd. BNP Paribas Exane raised shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company began coverage on shares of Genmab A/S in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, Guggenheim decreased their price target on shares of Genmab A/S from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.93.

Genmab A/S Stock Down 0.6%

GMAB stock opened at $25.08 on Friday. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.49 and a beta of 0.85. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87. Genmab A/S Sponsored ADR has a 12 month low of $20.23 and a 12 month high of $35.43. The firm has a 50-day moving average of $26.76 and a two-hundred day moving average of $29.24.

Genmab A/S 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.