Bank of Montreal Can Cuts Stock Position in Genmab A/S (NASDAQ:GMAB)

Bank of Montreal Can lessened its holdings in Genmab A/S (NASDAQ:GMAB) by 2.3% during the second quarter, HoldingsChannel.com reports. The fund owned 76,987 shares of the company’s stock after selling 1,803 shares during the quarter. Bank of Montreal Can’s holdings in Genmab A/S were worth $2,003,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GMAB. Russell Investments Group Ltd. increased its stake in Genmab A/S by 137.7% during the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock worth $28,000 after buying an additional 544 shares during the period. GAMMA Investing LLC increased its stake in Genmab A/S by 194.0% during the 1st quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock worth $34,000 after buying an additional 749 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Genmab A/S during the 1st quarter worth $43,000. Barometer Capital Management Inc. purchased a new stake in Genmab A/S during the 4th quarter worth $121,000. Finally, Headlands Technologies LLC increased its stake in Genmab A/S by 1,702.8% during the 2nd quarter. Headlands Technologies LLC now owns 5,138 shares of the company’s stock worth $129,000 after buying an additional 4,853 shares during the period. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Stock Performance

NASDAQ GMAB opened at $23.40 on Friday. Genmab A/S has a one year low of $23.24 and a one year high of $35.88. The company has a 50-day simple moving average of $26.65 and a 200-day simple moving average of $27.60. The firm has a market capitalization of $15.47 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 0.73 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GMAB shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Genmab A/S in a research note on Wednesday, September 11th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research note on Friday, September 20th. BTIG Research boosted their target price on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.20.

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.