Marotta Asset Management Makes New Investment in Genmab A/S (NASDAQ:GMAB)

Marotta Asset Management bought a new position in Genmab A/S (NASDAQ:GMAB) 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) 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.