Marotta Asset Management bought a new position in Genmab A/S (NASDAQ:GMAB – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,014 shares of the company’s stock, valued at approximately $647,000.
Several other hedge funds also recently bought and sold shares of GMAB. Millennium Management LLC increased its holdings in shares of Genmab A/S by 655.9% during the 4th quarter. Millennium Management LLC now owns 919,408 shares of the company’s stock valued at $38,965,000 after acquiring an additional 797,770 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Genmab A/S by 111.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,109,871 shares of the company’s stock valued at $16,936,000 after acquiring an additional 585,924 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Genmab A/S by 9.6% during the 4th quarter. Alliancebernstein L.P. now owns 6,335,618 shares of the company’s stock valued at $268,503,000 after acquiring an additional 556,129 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Genmab A/S by 279.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 645,551 shares of the company’s stock valued at $27,358,000 after acquiring an additional 475,579 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Genmab A/S by 4,498.0% during the 4th quarter. Franklin Resources Inc. now owns 441,362 shares of the company’s stock valued at $18,705,000 after purchasing an additional 431,763 shares during the period. 6.29% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GMAB has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and set a $54.00 target price on shares of Genmab A/S in a research note on Wednesday, September 6th. HSBC initiated coverage on Genmab A/S in a research note on Friday, July 14th. They set a “buy” rating for the company. Royal Bank of Canada downgraded Genmab A/S from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, September 6th. Morgan Stanley restated an “underweight” rating on shares of Genmab A/S in a research note on Monday, July 31st. Finally, BTIG Research started coverage on Genmab A/S in a research note on Thursday, August 24th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Genmab A/S currently has a consensus rating of “Hold” and an average price target of $756.80.
Genmab A/S Price Performance
Shares of GMAB traded up $2.02 during mid-day trading on Thursday, reaching $38.33. The company had a trading volume of 100,669 shares, compared to its average volume of 467,665. Genmab A/S has a twelve month low of $31.40 and a twelve month high of $47.50. The company’s 50-day moving average is $38.49 and its 200-day moving average is $38.76. The company has a market capitalization of $25.31 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.25 and a beta of 0.94.
Genmab A/S (NASDAQ:GMAB – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Genmab A/S had a return on equity of 16.93% and a net margin of 28.78%. The company had revenue of $613.43 million during the quarter, compared to analyst estimates of $618.77 million. As a group, equities analysts expect that Genmab A/S will post 1.02 EPS for the current fiscal year.
Genmab A/S Company Profile
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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.
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