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

Genmab A/S (NASDAQ:GMAB) shares saw an uptick in trading volume on Monday . 345,719 shares changed hands during trading, a decline of 44% from the previous session’s volume of 620,495 shares.The stock last traded at $22.69 and had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Wednesday, October 16th. Morgan Stanley restated an “equal weight” rating and set a $31.00 price target on shares of Genmab A/S in a research report on Wednesday, September 11th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Truist Financial dropped their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, Redburn Atlantic began coverage on Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Genmab A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Stock Performance

The firm has a market capitalization of $15.06 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The firm has a 50 day moving average price of $25.58 and a two-hundred day moving average price of $26.96.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $779.50 million during the quarter, compared to analyst estimates of $734.60 million. Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. Equities research analysts forecast that Genmab A/S will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Genmab A/S by 194.0% in the 1st quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock worth $34,000 after purchasing an additional 749 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Genmab A/S during the first quarter valued at $43,000. Legacy Wealth Asset Management LLC raised its position in Genmab A/S by 4.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 36,703 shares of the company’s stock valued at $1,098,000 after buying an additional 1,611 shares during the period. Janney Montgomery Scott LLC lifted its stake in Genmab A/S by 43.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,369 shares of the company’s stock worth $520,000 after acquiring an additional 5,238 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Genmab A/S during the 1st quarter worth about $655,000. 7.07% of the stock is owned by hedge funds and other institutional investors.

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; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.