Avantax Advisory Services Inc. Buys Shares of 72,394 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 shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 72,394 shares of the company's stock, valued at approximately $1,417,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of Genmab A/S in the first quarter worth approximately $84,000. Madison Asset Management LLC raised its stake in Genmab A/S by 33.0% during the 1st quarter. Madison Asset Management LLC now owns 62,363 shares of the company's stock valued at $1,221,000 after purchasing an additional 15,459 shares during the last quarter. Choreo LLC raised its stake in Genmab A/S by 19.4% during the 1st quarter. Choreo LLC now owns 26,040 shares of the company's stock valued at $510,000 after purchasing an additional 4,226 shares during the last quarter. Gallacher Capital Management LLC increased its holdings in Genmab A/S by 6.8% in the 1st quarter. Gallacher Capital Management LLC now owns 14,346 shares of the company's stock valued at $281,000 after buying an additional 915 shares during the period. Finally, Wealth Alliance LLC bought a new stake in Genmab A/S in the 1st quarter valued at $277,000. 7.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Genmab A/S Trading Up 0.8%

Shares of NASDAQ:GMAB traded up $0.19 on Tuesday, hitting $22.17. The company had a trading volume of 373,938 shares, compared to its average volume of 1,441,989. Genmab A/S Sponsored ADR has a 1-year low of $17.24 and a 1-year high of $27.94. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 6.62 and a beta of 0.95. The stock has a 50 day moving average price of $21.68 and a 200 day moving average price of $20.84.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.08. The company had revenue of $715.00 million during the quarter, compared to analysts' expectations of $5.17 billion. Genmab A/S had a net margin of 35.11% and a return on equity of 18.08%. Sell-side analysts anticipate that Genmab A/S Sponsored ADR will post 1.45 earnings per share 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.