Avidity Partners Management LP Cuts Stock Holdings in Genmab A/S Sponsored ADR $GMAB

Avidity Partners Management LP reduced its stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company's stock after selling 42,000 shares during the period. Avidity Partners Management LP's holdings in Genmab A/S were worth $1,342,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GMAB. Perpetual Ltd acquired a new position in Genmab A/S in the 4th quarter valued at about $25,478,000. Assetmark Inc. grew its stake in Genmab A/S by 2,423.8% during the fourth quarter. Assetmark Inc. now owns 233,852 shares of the company's stock worth $7,203,000 after buying an additional 224,586 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Genmab A/S by 15.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 364,756 shares of the company's stock valued at $11,234,000 after buying an additional 48,894 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of Genmab A/S during the 4th quarter worth $33,835,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Genmab A/S during the 4th quarter valued at approximately $1,331,000. Institutional investors and hedge funds own 7.07% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GMAB. HC Wainwright upped their price objective on shares of Genmab A/S from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of Genmab A/S from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. The Goldman Sachs Group raised Genmab A/S from a "neutral" rating to a "buy" rating in a report on Wednesday, April 22nd. Truist Financial began coverage on shares of Genmab A/S in a research report on Wednesday, May 27th. They set a "buy" rating and a $40.00 target price for the company. Finally, New Street Research set a $43.00 price objective on shares of Genmab A/S in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Genmab A/S has an average rating of "Moderate Buy" and an average target price of $39.28.

Genmab A/S Stock Up 0.8%

GMAB opened at $28.87 on Friday. Genmab A/S Sponsored ADR has a 12 month low of $21.00 and a 12 month high of $35.43. The company has a market cap of $18.00 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $27.03 and a 200 day moving average of $28.16.

About Genmab A/S

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company's work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab's portfolio includes products developed in collaboration with leading global pharmaceutical partners.

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