Genmab A/S (NASDAQ:GMAB) Sees Strong Trading Volume – Here’s Why

Shares of Genmab A/S (NASDAQ:GMAB) saw strong trading volume on Thursday . 470,144 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 705,920 shares.The stock last traded at $20.58 and had previously closed at $20.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GMAB shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a research note on Wednesday, September 11th. Redburn Atlantic began coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating and issued a $48.00 price target (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Price Performance

The firm has a fifty day moving average of $23.16 and a two-hundred day moving average of $25.91. The stock has a market capitalization of $13.67 billion, a P/E ratio of 20.05, a P/E/G ratio of 0.64 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 for the quarter, missing the consensus estimate of $0.32 by ($0.03). The business had revenue of $816.10 million during the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same period in the previous year, the company posted $0.47 EPS. As a group, sell-side analysts forecast that Genmab A/S will post 1.28 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

Several hedge funds and other institutional investors have recently bought and sold shares of GMAB. MML Investors Services LLC lifted its stake in shares of Genmab A/S by 5.4% during the 3rd quarter. MML Investors Services LLC now owns 73,261 shares of the company’s stock worth $1,786,000 after purchasing an additional 3,785 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Genmab A/S by 116.4% in the 3rd quarter. XTX Topco Ltd now owns 25,429 shares of the company’s stock valued at $620,000 after buying an additional 13,678 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Genmab A/S by 84.1% in the 3rd quarter. Two Sigma Advisers LP now owns 615,100 shares of the company’s stock worth $14,996,000 after buying an additional 280,900 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Genmab A/S by 56.8% during the 3rd quarter. Quantinno Capital Management LP now owns 24,207 shares of the company’s stock worth $590,000 after acquiring an additional 8,766 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Genmab A/S during the third quarter valued at approximately $273,000. Institutional investors own 7.07% of the company’s stock.

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.