Genmab A/S (NASDAQ:GMAB) Shares Gap Up – Here’s What Happened

Genmab A/S Sponsored ADR (NASDAQ:GMAB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.02, but opened at $27.96. Genmab A/S shares last traded at $27.73, with a volume of 727,351 shares.

Analyst Ratings Changes

Several equities analysts have commented on GMAB shares. Wells Fargo & Company assumed coverage on shares of Genmab A/S in a research report on Monday, March 2nd. They issued an “overweight” rating and a $40.00 price target for the company. Weiss Ratings cut Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Genmab A/S in a report on Tuesday, June 23rd. Wolfe Research assumed coverage on Genmab A/S in a research note on Friday, March 27th. They set an “outperform” rating and a $32.00 target price for the company. Finally, BNP Paribas Exane upgraded Genmab A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Genmab A/S has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.

Genmab A/S Stock Up 6.0%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.17 and a current ratio of 2.18. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.66 and a beta of 0.85. The firm has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $28.75.

Hedge Funds Weigh In On Genmab A/S

Several hedge funds have recently added to or reduced their stakes in GMAB. Orbis Allan Gray Ltd raised its holdings in Genmab A/S by 30.2% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock worth $444,089,000 after purchasing an additional 3,340,456 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of 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 during the last quarter. Paradigm Biocapital Advisors LP raised its stake in Genmab A/S by 84.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company’s stock worth $216,827,000 after acquiring an additional 3,222,983 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Genmab A/S by 36.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock worth $153,324,000 after acquiring an additional 1,334,919 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Genmab A/S by 26.4% in the first quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock valued at $118,442,000 after acquiring an additional 921,700 shares during the last quarter. 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.