Genmab A/S (NASDAQ:GMAB) Shares Down 3.5% – Here’s Why

Genmab A/S Sponsored ADR (NASDAQ:GMAB) dropped 3.5% on Wednesday . The stock traded as low as $30.38 and last traded at $30.3870. Approximately 482,335 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,608,695 shares. The stock had previously closed at $31.49.

Analysts Set New Price Targets

GMAB has been the topic of a number of analyst reports. Johnson Rice reiterated a “buy” rating on shares of Genmab A/S in a research report on Monday, October 27th. HC Wainwright raised their target price on Genmab A/S from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Zacks Research cut shares of Genmab A/S from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Wall Street Zen raised shares of Genmab A/S from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Guggenheim raised shares of Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Genmab A/S presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Genmab A/S Price Performance

The company has a market capitalization of $19.79 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.60 and a beta of 0.90. The stock has a 50 day simple moving average of $30.92 and a two-hundred day simple moving average of $27.28.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.48 by $0.17. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $975.40 million. Genmab A/S had a net margin of 41.36% and a return on equity of 23.98%. Equities research analysts predict that Genmab A/S Sponsored ADR will post 1.45 EPS for the current year.

Institutional Trading of Genmab A/S

Several institutional investors and hedge funds have recently modified their holdings of GMAB. NewEdge Advisors LLC boosted its position in Genmab A/S by 1,229.0% during the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after acquiring an additional 1,143 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Genmab A/S by 143.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after purchasing an additional 780 shares during the period. Community Bank N.A. acquired a new stake in shares of Genmab A/S during the third quarter worth $47,000. Cromwell Holdings LLC boosted its holdings in shares of Genmab A/S by 136.3% during the third quarter. Cromwell Holdings LLC now owns 1,531 shares of the company’s stock worth $47,000 after purchasing an additional 883 shares during the last quarter. Finally, 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 during the period. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Company Profile

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.