Barometer Capital Management Inc. Boosts Holdings in Genmab A/S Sponsored ADR $GMAB

Key Points

• Barometer Capital Management dramatically increased its Genmab A/S ADR stake by 842.2% in the first quarter, ending with 42,400 shares worth about $1.14 million.
• Other institutional investors also added to or initiated positions in GMAB, and hedge funds and other institutions now own 7.07% of the company.
• Analyst sentiment is mostly positive: GMAB has a Moderate Buy consensus with an average price target of $38.21, while shares recently traded around $28.36.

Barometer Capital Management Inc. lifted its position in shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 842.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,400 shares of the company's stock after buying an additional 37,900 shares during the period. Barometer Capital Management Inc.'s holdings in Genmab A/S were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GMAB. Terra Nova Asset Management LLC acquired a new stake in Genmab A/S during the fourth quarter worth $1,866,000. Perpetual Ltd acquired a new position in shares of Genmab A/S in the 4th quarter valued at $25,478,000. Assetmark Inc. lifted its stake in shares of Genmab A/S by 2,423.8% in the 4th quarter. Assetmark Inc. now owns 233,852 shares of the company's stock valued at $7,203,000 after purchasing an additional 224,586 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Genmab A/S by 15.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 364,756 shares of the company's stock worth $11,234,000 after purchasing an additional 48,894 shares during the period. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Genmab A/S during the 4th quarter worth $1,331,000. Hedge funds and other institutional investors own 7.07% of the company's stock.

Analyst Upgrades and Downgrades

GMAB has been the topic of several research analyst reports. Wolfe Research started coverage on shares of Genmab A/S in a report on Friday, March 27th. They issued an "outperform" rating and a $32.00 price objective on the stock. HC Wainwright increased their target price on shares of Genmab A/S from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of Genmab A/S from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. The Goldman Sachs Group upgraded shares of Genmab A/S from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 22nd. Finally, Truist Financial started coverage on shares of Genmab A/S in a research note on Wednesday, May 27th. They issued a "buy" rating and a $40.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.21.

Genmab A/S Trading Up 1.6%

Shares of NASDAQ GMAB opened at $28.36 on Wednesday. Genmab A/S Sponsored ADR has a twelve month low of $21.00 and a twelve month high of $35.43. 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 stock has a fifty day simple moving average of $26.68 and a 200-day simple moving average of $28.35. The stock has a market capitalization of $17.68 billion, a PE ratio of 21.49, a PEG ratio of 1.77 and a beta of 0.84.

Genmab A/S Profile

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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