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

Genmab A/S (NASDAQ:GMAB)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $19.58, but opened at $19.09. Genmab A/S shares last traded at $18.95, with a volume of 227,258 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GMAB. William Blair upgraded Genmab A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 11th. Leerink Partners raised shares of Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Thursday, February 13th. Truist Financial decreased their price objective on shares of Genmab A/S from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Sanford C. Bernstein cut shares of Genmab A/S from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Finally, BNP Paribas raised Genmab A/S from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.33.

Genmab A/S Stock Up 0.9 %

The stock has a market capitalization of $12.45 billion, a PE ratio of 10.82, a P/E/G ratio of 2.65 and a beta of 0.98. The business’s fifty day moving average is $20.76 and its 200-day moving average is $21.71.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.29. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. As a group, sell-side analysts anticipate that Genmab A/S will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors have recently added to or reduced their stakes in GMAB. EverSource Wealth Advisors LLC raised its position in shares of Genmab A/S by 295.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $26,000 after purchasing an additional 939 shares during the period. Lindbrook Capital LLC lifted its position in shares of Genmab A/S by 105.4% in the fourth quarter. Lindbrook Capital LLC now owns 1,851 shares of the company’s stock worth $39,000 after buying an additional 950 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Genmab A/S by 96.6% during the 4th quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock worth $45,000 after acquiring an additional 1,051 shares in the last quarter. Barclays PLC increased its holdings in shares of Genmab A/S by 1,072.8% during the 4th quarter. Barclays PLC now owns 2,498 shares of the company’s stock valued at $52,000 after acquiring an additional 2,285 shares during the last quarter. Finally, Cromwell Holdings LLC raised its position in shares of Genmab A/S by 656.8% in the fourth quarter. Cromwell Holdings LLC now owns 2,876 shares of the company’s stock valued at $60,000 after purchasing an additional 2,496 shares during the period. 7.07% of the stock is currently owned by institutional investors and hedge funds.

About Genmab A/S

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.