Genmab A/S (NASDAQ:GMAB) Shares Gap Up to $29.98

Genmab A/S (NASDAQ:GMAB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $29.98, but opened at $30.92. Genmab A/S shares last traded at $30.78, with a volume of 29,933 shares.

Wall Street Analyst Weigh In

GMAB has been the topic of several recent analyst reports. UBS Group upgraded Genmab A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $46.00 to $48.00 in a report on Friday, February 23rd. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Wednesday. Citigroup lowered Genmab A/S from a “neutral” rating to a “sell” rating in a report on Monday, January 22nd. Finally, Truist Financial reiterated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Tuesday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.50.

Genmab A/S Stock Down 0.6 %

The firm has a market cap of $20.24 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The firm has a fifty day moving average of $28.85 and a 200-day moving average of $31.10.

Genmab A/S (NASDAQ:GMAB) last released its earnings results on Wednesday, February 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Genmab A/S had a return on equity of 18.06% and a net margin of 26.50%. The business had revenue of $675.29 million for the quarter, compared to analyst estimates of $678.14 million. On average, equities analysts forecast that Genmab A/S will post 1.09 EPS for the current year.

Institutional Trading of Genmab A/S

Several institutional investors and hedge funds have recently bought and sold shares of GMAB. First Manhattan Co. bought a new stake in Genmab A/S during the fourth quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Genmab A/S in the third quarter valued at approximately $27,000. Pinnacle Bancorp Inc. raised its stake in Genmab A/S by 315.8% in the fourth quarter. Pinnacle Bancorp Inc. now owns 840 shares of the company’s stock valued at $27,000 after buying an additional 638 shares during the period. NBC Securities Inc. bought a new stake in Genmab A/S in the third quarter valued at approximately $37,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Genmab A/S by 86.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,075 shares of the company’s stock valued at $38,000 after buying an additional 498 shares during the period. Institutional investors own 7.07% of the company’s stock.

About Genmab A/S

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.