Avantax Advisory Services Inc. Takes Position in Genmab A/S Sponsored ADR (NASDAQ:GMAB)

Key Points

• Avantax Advisory Services Inc. has acquired 72,394 shares of Genmab A/S, valued at approximately $1.4 million, reflecting growing institutional interest in the stock.
• Genmab A/S reported earnings of $0.31 per share, exceeding analysts' expectations, but its revenue for the quarter was significantly lower than anticipated at $715 million.
• Equities analysts have given Genmab A/S a consensus rating of "Moderate Buy" with a target price of $37.80, even as some have adjusted their target prices downward.

Avantax Advisory Services Inc. bought a new stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 72,394 shares of the company's stock, valued at approximately $1,417,000.

Several other large investors also recently made changes to their positions in the stock. Marotta Asset Management grew its position in Genmab A/S by 5.8% in the first quarter. Marotta Asset Management now owns 13,532 shares of the company's stock valued at $265,000 after acquiring an additional 739 shares during the last quarter. Gallacher Capital Management LLC increased its position in shares of Genmab A/S by 6.8% during the first quarter. Gallacher Capital Management LLC now owns 14,346 shares of the company's stock worth $281,000 after buying an additional 915 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Genmab A/S by 17.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 13,711 shares of the company's stock valued at $286,000 after purchasing an additional 2,023 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Genmab A/S by 12.7% during the 4th quarter. NewEdge Advisors LLC now owns 19,304 shares of the company's stock worth $403,000 after buying an additional 2,171 shares during the period. Finally, Barclays PLC raised its holdings in shares of Genmab A/S by 1,072.8% during the fourth quarter. Barclays PLC now owns 2,498 shares of the company's stock valued at $52,000 after purchasing an additional 2,285 shares during the period. Institutional investors and hedge funds own 7.07% of the company's stock.

Genmab A/S Stock Performance

NASDAQ GMAB traded up $0.18 on Monday, hitting $21.96. The stock had a trading volume of 788,875 shares, compared to its average volume of 1,447,838. The firm has a 50-day moving average of $21.66 and a 200-day moving average of $20.83. Genmab A/S Sponsored ADR has a 52-week low of $17.24 and a 52-week high of $27.94. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 6.62 and a beta of 0.95.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. The company had revenue of $715.00 million during the quarter, compared to analyst estimates of $5.17 billion. Genmab A/S had a return on equity of 18.08% and a net margin of 35.11%. As a group, research analysts anticipate that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on GMAB. Wall Street Zen raised shares of Genmab A/S from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. Truist Financial increased their price target on Genmab A/S from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $37.00 price objective (down from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genmab A/S currently has an average rating of "Moderate Buy" and a consensus target price of $37.80.

About Genmab A/S

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.