Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume – Here’s What Happened

Genmab A/S Sponsored ADR (NASDAQ:GMAB) shares saw unusually-high trading volume on Wednesday . Approximately 2,746,555 shares changed hands during mid-day trading, an increase of 51% from the previous session’s volume of 1,819,601 shares.The stock last traded at $26.3360 and had previously closed at $25.68.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group raised Genmab A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, April 22nd. Morgan Stanley assumed coverage on Genmab A/S in a report on Monday, February 16th. They issued an “equal weight” rating and a $34.00 price target for the company. Weiss Ratings cut Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Jefferies Financial Group assumed coverage on Genmab A/S in a report on Tuesday, February 17th. They issued a “buy” rating and a $41.50 price target for the company. Finally, Wall Street Zen cut Genmab A/S from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Genmab A/S has an average rating of “Moderate Buy” and a consensus target price of $39.07.

Genmab A/S Price Performance

The company has a quick ratio of 2.17, a current ratio of 2.18 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $16.87 billion, a PE ratio of 20.49, a PEG ratio of 1.62 and a beta of 0.86. The company has a 50-day moving average of $26.98 and a 200 day moving average of $29.71.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.41). Genmab A/S had a return on equity of 15.34% and a net margin of 21.05%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Sell-side analysts predict that Genmab A/S Sponsored ADR will post 1.16 EPS for the current year.

Institutional Trading of Genmab A/S

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of Genmab A/S by 291.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 616 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Genmab A/S by 37.8% in the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Genmab A/S in the first quarter valued at approximately $34,000. NewEdge Advisors LLC grew its position in shares of Genmab A/S by 1,229.0% in the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock valued at $38,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Genmab A/S by 143.4% in the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock valued at $41,000 after purchasing an additional 780 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 is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.