Genmab A/S (NASDAQ:GMAB) Hits New 52-Week Low – Here’s Why

Genmab A/S (NASDAQ:GMAB)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.15 and last traded at $22.17, with a volume of 227992 shares. The stock had previously closed at $22.75.

Analyst Ratings Changes

GMAB has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Wednesday, October 16th. Redburn Atlantic started coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $31.00 price target on shares of Genmab A/S in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Stock Performance

The stock has a market capitalization of $14.78 billion, a PE ratio of 18.45, a P/E/G ratio of 0.67 and a beta of 0.99. The firm has a 50 day moving average of $24.57 and a 200-day moving average of $26.47.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. On average, sell-side analysts predict that Genmab A/S will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in Genmab A/S by 360.5% in the first quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock valued at $882,000 after acquiring an additional 23,094 shares during the last quarter. Capital International Investors increased its position in Genmab A/S by 7.8% during the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock worth $130,805,000 after buying an additional 315,355 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Genmab A/S by 26.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock worth $5,480,000 after buying an additional 45,376 shares during the last quarter. Choreo LLC bought a new position in Genmab A/S during the second quarter valued at about $776,000. Finally, Renaissance Technologies LLC lifted its position in shares of Genmab A/S by 7.6% in the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after buying an additional 103,859 shares during the last quarter. 7.07% of the stock is 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.