Truist Financial Corp Reduces Stock Holdings in Genmab A/S Sponsored ADR $GMAB

Truist Financial Corp decreased its stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,526 shares of the company’s stock after selling 2,463 shares during the quarter. Truist Financial Corp’s holdings in Genmab A/S were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMAB. GAMMA Investing LLC boosted its holdings in shares of Genmab A/S by 1,465.3% in the 1st quarter. GAMMA Investing LLC now owns 33,482 shares of the company’s stock worth $656,000 after purchasing an additional 31,343 shares during the period. QRG Capital Management Inc. boosted its holdings in Genmab A/S by 213.7% during the 1st quarter. QRG Capital Management Inc. now owns 74,847 shares of the company’s stock valued at $1,465,000 after acquiring an additional 50,990 shares during the period. Blue Trust Inc. boosted its holdings in Genmab A/S by 169.9% during the 1st quarter. Blue Trust Inc. now owns 7,413 shares of the company’s stock valued at $145,000 after acquiring an additional 4,666 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Genmab A/S by 20.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 249,468 shares of the company’s stock valued at $4,885,000 after acquiring an additional 42,361 shares during the period. Finally, DAVENPORT & Co LLC boosted its holdings in Genmab A/S by 21.1% during the 1st quarter. DAVENPORT & Co LLC now owns 31,679 shares of the company’s stock valued at $620,000 after acquiring an additional 5,529 shares during the period. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Stock Performance

Shares of GMAB stock opened at $32.72 on Thursday. The stock’s 50-day simple moving average is $27.51 and its 200-day simple moving average is $23.13. The firm has a market capitalization of $21.01 billion, a PE ratio of 16.44, a P/E/G ratio of 1.85 and a beta of 0.98. Genmab A/S Sponsored ADR has a fifty-two week low of $17.24 and a fifty-two week high of $33.63.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Thursday, August 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $925.00 million for the quarter, compared to the consensus estimate of $5.77 billion. Genmab A/S had a return on equity of 21.03% and a net margin of 37.53%. Genmab A/S has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on GMAB. Truist Financial boosted their price objective on Genmab A/S from $45.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Guggenheim upgraded Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Genmab A/S in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Genmab A/S in a report on Wednesday. Finally, Zacks Research upgraded Genmab A/S from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

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.