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

Genmab A/S (NASDAQ:GMAB) shares gapped up prior to trading on Thursday . The stock had previously closed at $20.23, but opened at $20.93. Genmab A/S shares last traded at $20.84, with a volume of 112,594 shares traded.

Wall Street Analyst Weigh In

GMAB has been the topic of several analyst reports. Redburn Atlantic began coverage on Genmab A/S in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Genmab A/S in a research report on Friday, November 8th. Sanford C. Bernstein raised shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Genmab A/S currently has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Stock Up 2.9 %

The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 0.59 and a beta of 0.97. The company’s 50-day moving average price is $21.27 and its 200-day moving average price is $24.15.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $816.10 million for 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 quarter in the previous year, the firm posted $0.47 earnings per share. Analysts predict that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Genmab A/S by 7.6% during the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after purchasing an additional 103,859 shares during the period. Two Sigma Advisers LP boosted its stake in Genmab A/S by 84.1% during the third 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 period. Cubist Systematic Strategies LLC grew its stake in shares of Genmab A/S by 109.7% in the second quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock valued at $7,000,000 after buying an additional 145,689 shares in the last quarter. FMR LLC raised its holdings in shares of Genmab A/S by 13.5% in the 3rd quarter. FMR LLC now owns 278,194 shares of the company’s stock valued at $6,782,000 after buying an additional 33,076 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Genmab A/S by 6.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 232,243 shares of the company’s stock worth $5,662,000 after acquiring an additional 14,165 shares in the last quarter. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

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.