Genmab A/S (NASDAQ:GMAB) Shares Gap Down After Analyst Downgrade

Shares of Genmab A/S (NASDAQ:GMAB) gapped down prior to trading on Tuesday after Truist Financial lowered their price target on the stock from $50.00 to $45.00. The stock had previously closed at $21.98, but opened at $20.71. Truist Financial currently has a buy rating on the stock. Genmab A/S shares last traded at $20.19, with a volume of 425,743 shares trading hands.

GMAB has been the subject of a number of other reports. Sanford C. Bernstein upgraded shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, December 20th. BNP Paribas raised Genmab A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 11th. William Blair upgraded Genmab A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research report on Thursday, January 23rd. Finally, Leerink Partners upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

Hedge Funds Weigh In On Genmab A/S

Hedge funds have recently bought and sold shares of the business. Employees Retirement System of Texas acquired a new position in shares of Genmab A/S during the 4th quarter worth approximately $1,648,000. Mackenzie Financial Corp purchased a new stake in Genmab A/S in the 4th quarter worth $689,000. GTS Securities LLC acquired a new position in Genmab A/S during the fourth quarter worth $1,552,000. Vise Technologies Inc. lifted its holdings in Genmab A/S by 41.7% during the fourth quarter. Vise Technologies Inc. now owns 12,892 shares of the company’s stock valued at $269,000 after purchasing an additional 3,794 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Genmab A/S by 102.4% during the fourth quarter. Voloridge Investment Management LLC now owns 1,110,191 shares of the company’s stock valued at $23,170,000 after purchasing an additional 561,767 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Stock Down 0.2 %

The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.65 and a beta of 0.98. The company’s 50-day moving average price is $21.28 and its 200-day moving average price is $22.52.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.29. Genmab A/S had a return on equity of 16.78% and a net margin of 36.30%. Analysts predict that Genmab A/S will post 1.45 earnings per share for the current fiscal year.

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.