PNC Financial Services Group Inc. Decreases Stock Position in Genmab A/S (NASDAQ:GMAB)

PNC Financial Services Group Inc. cut its holdings in Genmab A/S (NASDAQ:GMAB) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 93,278 shares of the company’s stock after selling 4,774 shares during the period. PNC Financial Services Group Inc.’s holdings in Genmab A/S were worth $2,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Genmab A/S by 137.7% during the first quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 544 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Genmab A/S during the 1st quarter valued at about $255,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Genmab A/S in the first quarter worth approximately $273,000. Bayesian Capital Management LP purchased a new position in shares of Genmab A/S during the first quarter valued at approximately $342,000. Finally, Dynasty Wealth Management LLC bought a new position in Genmab A/S during the first quarter valued at approximately $403,000. Institutional investors own 7.07% of the company’s stock.

Genmab A/S Stock Up 0.7 %

GMAB stock opened at $20.79 on Tuesday. The business’s 50-day moving average price is $23.04 and its 200-day moving average price is $25.81. The stock has a market cap of $13.76 billion, a P/E ratio of 20.18, a PEG ratio of 0.64 and a beta of 0.99. Genmab A/S has a twelve month low of $20.34 and a twelve month high of $32.88.

Genmab A/S (NASDAQ:GMAB) last issued 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 firm had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts expect that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GMAB. Truist Financial cut their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Redburn Atlantic began coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Morgan Stanley reissued an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a report on Wednesday, September 11th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research note on Wednesday, October 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S 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.