Bank of New York Mellon Corp Cuts Stock Position in Genmab A/S Sponsored ADR (NASDAQ:GMAB)

Key Points

• Bank of New York Mellon Corp reduced its stake in Genmab A/S by 25.2%, holding 53,549 shares valued at $1.05 million after selling 18,074 shares in the first quarter.
• Genmab A/S reported earnings of $0.31 per share, exceeding expectations, amidst total quarterly revenues of $715 million, which was below analysts' expectations of $5.17 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Genmab A/S, with an average target price of $37.80 after several upgrades by notable firms.

Bank of New York Mellon Corp reduced its position in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,549 shares of the company's stock after selling 18,074 shares during the period. Bank of New York Mellon Corp's holdings in Genmab A/S were worth $1,048,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GMAB. Marotta Asset Management raised its position in Genmab A/S by 5.8% during the 1st quarter. Marotta Asset Management now owns 13,532 shares of the company's stock worth $265,000 after buying an additional 739 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in 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 worth $286,000 after buying an additional 2,023 shares during the last quarter. NewEdge Advisors LLC increased its holdings 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 valued at $403,000 after purchasing an additional 2,171 shares in the last quarter. Barclays PLC increased its holdings in shares of Genmab A/S by 1,072.8% during the 4th quarter. Barclays PLC now owns 2,498 shares of the company's stock valued at $52,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Genmab A/S during the 4th quarter valued at approximately $60,000. 7.07% of the stock is currently owned by institutional investors.

Genmab A/S Stock Up 0.7%

GMAB traded up $0.16 on Monday, reaching $21.94. The company's stock had a trading volume of 553,437 shares, compared to its average volume of 1,446,376. The stock has a 50 day moving average of $21.66 and a two-hundred day moving average of $20.83. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 6.62 and a beta of 0.95. Genmab A/S Sponsored ADR has a fifty-two week low of $17.24 and a fifty-two week high of $27.94.

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 for the quarter, beating the consensus estimate of $0.23 by $0.08. The business had revenue of $715.00 million during the quarter, compared to the consensus estimate 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, analysts anticipate that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.