Wells Fargo & Company MN Lowers Stake in Genmab A/S (NASDAQ:GMAB)

Wells Fargo & Company MN cut its stake in Genmab A/S (NASDAQ:GMAB) by 59.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 283,111 shares of the company’s stock after selling 417,293 shares during the quarter. Wells Fargo & Company MN’s holdings in Genmab A/S were worth $5,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brandywine Global Investment Management LLC bought a new position in Genmab A/S in the fourth quarter worth about $33,804,000. JPMorgan Chase & Co. grew its position in shares of Genmab A/S by 3,049.3% in the 4th quarter. JPMorgan Chase & Co. now owns 407,613 shares of the company’s stock worth $8,507,000 after buying an additional 394,670 shares during the last quarter. Trexquant Investment LP raised its stake in shares of Genmab A/S by 495.1% during the 4th quarter. Trexquant Investment LP now owns 379,936 shares of the company’s stock worth $7,929,000 after acquiring an additional 316,089 shares in the last quarter. LPL Financial LLC lifted its position in Genmab A/S by 3.3% during the fourth quarter. LPL Financial LLC now owns 195,436 shares of the company’s stock valued at $4,079,000 after acquiring an additional 6,288 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in Genmab A/S in the fourth quarter valued at approximately $3,692,000. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Genmab A/S Stock Performance

Shares of GMAB opened at $20.04 on Friday. The company has a market capitalization of $13.26 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.65 and a beta of 1.07. The business’s 50-day moving average is $20.54 and its two-hundred day moving average is $21.15. Genmab A/S has a fifty-two week low of $17.24 and a fifty-two week high of $30.41.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.29. Genmab A/S had a return on equity of 16.78% and a net margin of 36.30%. Analysts forecast that Genmab A/S will post 1.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. William Blair upgraded Genmab A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 11th. Leerink Partners upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Thursday, February 13th. Sanford C. Bernstein lowered Genmab A/S from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 1st. BNP Paribas raised shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Leerink Partnrs upgraded shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Genmab A/S currently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

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.