Genmab A/S (NASDAQ:GMAB) Hits New 12-Month Low – Here’s What Happened

Genmab A/S (NASDAQ:GMAB) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $20.32 and last traded at $20.34, with a volume of 53103 shares trading hands. The stock had previously closed at $20.65.

Analyst Ratings Changes

Several research analysts have weighed in on GMAB shares. Redburn Atlantic started coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They set a “buy” rating on the stock. Truist Financial lowered their target price 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. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research note on Wednesday, October 16th. Morgan Stanley reissued an “equal weight” rating and issued a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Trading Down 2.3 %

The firm has a market capitalization of $13.35 billion, a P/E ratio of 19.58, a P/E/G ratio of 0.67 and a beta of 0.96. The stock’s 50-day simple moving average is $22.15 and its 200-day simple moving average is $25.07.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The business had revenue of $816.10 million during the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same quarter in the previous year, the firm earned $0.47 EPS. On average, equities research analysts expect that Genmab A/S will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in shares of Genmab A/S by 22.8% during the 2nd quarter. SG Americas Securities LLC now owns 36,234 shares of the company’s stock worth $911,000 after purchasing an additional 6,734 shares during the period. Bank of New York Mellon Corp increased its holdings in Genmab A/S by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 70,171 shares of the company’s stock worth $1,763,000 after buying an additional 3,283 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Genmab A/S by 123.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,240 shares of the company’s stock worth $81,000 after acquiring an additional 1,787 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Genmab A/S by 11.4% in the second quarter. Crossmark Global Holdings Inc. now owns 70,632 shares of the company’s stock valued at $1,775,000 after acquiring an additional 7,242 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in Genmab A/S by 29.3% in the second quarter. Ingalls & Snyder LLC now owns 229,700 shares of the company’s stock valued at $5,772,000 after acquiring an additional 52,117 shares during the last quarter. Institutional investors own 7.07% of the company’s stock.

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.