Oppenheimer Asset Management Inc. Raises Stock Holdings in Genmab A/S (NASDAQ:GMAB)

Oppenheimer Asset Management Inc. raised its position in shares of Genmab A/S (NASDAQ:GMAB) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 232,243 shares of the company’s stock after purchasing an additional 14,165 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Genmab A/S were worth $5,662,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Legacy Wealth Asset Management LLC increased its stake in shares of Genmab A/S by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock worth $1,097,000 after acquiring an additional 471 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Genmab A/S by 7.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after purchasing an additional 478 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Genmab A/S by 137.7% during the first quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after purchasing an additional 544 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Genmab A/S by 7.1% in the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock worth $470,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Genmab A/S by 43.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock worth $113,000 after buying an additional 1,413 shares during the last quarter. Institutional investors own 7.07% of the company’s stock.

Genmab A/S Price Performance

Genmab A/S stock opened at $21.18 on Friday. Genmab A/S has a one year low of $21.17 and a one year high of $32.89. The business’s fifty day moving average is $24.08 and its 200 day moving average is $26.28. The stock has a market capitalization of $14.02 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. The company had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $838.20 million. During the same period in the previous year, the business earned $0.47 EPS. As a group, sell-side analysts expect that Genmab A/S will post 1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GMAB. Truist Financial lowered their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 9th. BMO Capital Markets restated an “outperform” rating and set a $48.00 price target (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Redburn Atlantic initiated coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. Morgan Stanley restated an “equal weight” rating and set a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.20.

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.