Genmab A/S Sponsored ADR (NASDAQ:GMAB) Shares Sold by Bank of New York Mellon Corp

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 cut its holdings in shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 25.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,549 shares of the company's stock after selling 18,074 shares during the quarter. Bank of New York Mellon Corp's holdings in Genmab A/S were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its holdings in 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 acquiring an additional 2,285 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genmab A/S during the fourth quarter worth about $60,000. Aquatic Capital Management LLC purchased a new stake in Genmab A/S during the fourth quarter worth about $114,000. Blue Trust Inc. increased its stake in Genmab A/S by 169.9% during the first quarter. Blue Trust Inc. now owns 7,413 shares of the company's stock worth $145,000 after purchasing an additional 4,666 shares during the period. Finally, Versant Capital Management Inc increased its stake in Genmab A/S by 1,108.3% during the first quarter. Versant Capital Management Inc now owns 8,724 shares of the company's stock worth $171,000 after purchasing an additional 8,002 shares during the period. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Genmab A/S Stock Performance

Shares of GMAB traded up $0.11 during midday trading on Friday, hitting $21.78. The company had a trading volume of 1,204,467 shares, compared to its average volume of 989,805. The company's 50-day simple moving average is $21.66 and its 200-day simple moving average is $20.83. The firm has a market capitalization of $13.97 billion, a P/E ratio of 12.38, a P/E/G ratio of 6.58 and a beta of 0.95. Genmab A/S Sponsored ADR has a 1 year low of $17.24 and a 1 year high of $28.43.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced 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. Genmab A/S had a return on equity of 18.08% and a net margin of 35.11%. The business had revenue of $715.00 million during the quarter, compared to analysts' expectations of $5.17 billion. Equities analysts predict that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GMAB has been the topic of a number of research reports. Wall Street Zen upgraded shares of Genmab A/S from a "hold" rating to a "buy" rating in a report on Monday. HC Wainwright reiterated a "buy" rating and set a $37.00 target price (down from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. Finally, Truist Financial increased 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Genmab A/S presently has a consensus rating of "Moderate Buy" and an average target price of $37.80.

Genmab A/S 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.