Ritholtz Wealth Management Takes Position in Genmab A/S (NASDAQ:GMAB)

Ritholtz Wealth Management bought a new stake in shares of Genmab A/S (NASDAQ:GMAB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,869 shares of the company’s stock, valued at approximately $314,000.

Several other hedge funds have also recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in shares of Genmab A/S during the 2nd quarter valued at about $1,354,000. Point72 Asset Management L.P. purchased a new stake in shares of Genmab A/S during the 2nd quarter valued at about $457,000. Cubist Systematic Strategies LLC raised its position in shares of Genmab A/S by 109.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock valued at $7,000,000 after buying an additional 145,689 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Genmab A/S by 7.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Genmab A/S by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock valued at $36,752,000 after buying an additional 103,859 shares in the last quarter. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Redburn Atlantic started coverage on shares of Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $31.00 price target on shares of Genmab A/S in a report on Wednesday, September 11th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Finally, Truist Financial cut their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Price Performance

Shares of GMAB stock opened at $22.60 on Thursday. The company has a market capitalization of $14.95 billion, a P/E ratio of 18.83, a P/E/G ratio of 0.71 and a beta of 0.98. The company’s 50-day simple moving average is $25.89 and its two-hundred day simple moving average is $27.18. Genmab A/S has a one year low of $22.52 and a one year high of $33.45.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $779.50 million during the quarter, compared to the consensus estimate of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. On average, research analysts expect that Genmab A/S will post 1.27 EPS for the current fiscal year.

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.