Diversify Wealth Management LLC Takes $1.22 Million Position in Genmab A/S Sponsored ADR $GMAB

Key Points

• Diversify Wealth Management bought a new stake in Genmab A/S during the first quarter, purchasing 46,564 shares valued at about $1.22 million.
• Several other hedge funds also increased their Genmab holdings, and institutional investors now own about 7.07% of the company’s stock.
• Wall Street sentiment is mostly positive: Genmab has a Moderate Buy consensus rating with an average price target of $38.21, above its recent trading price around $29.

Diversify Wealth Management LLC purchased a new stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,564 shares of the company's stock, valued at approximately $1,216,000.

Other hedge funds also recently made changes to their positions in the company. Orbis Allan Gray Ltd lifted its holdings in shares of Genmab A/S by 30.2% during the 4th quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company's stock worth $444,089,000 after acquiring an additional 3,340,456 shares during the period. Paradigm Biocapital Advisors LP increased its stake in Genmab A/S by 84.4% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company's stock valued at $216,827,000 after acquiring an additional 3,222,983 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Genmab A/S by 36.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company's stock worth $153,324,000 after purchasing an additional 1,334,919 shares in the last quarter. Renaissance Technologies LLC raised its position in Genmab A/S by 23.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,492,850 shares of the company's stock worth $107,580,000 after purchasing an additional 671,307 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Genmab A/S by 9.5% during the fourth quarter. Morgan Stanley now owns 1,834,439 shares of the company's stock worth $56,501,000 after purchasing an additional 159,865 shares during the period. Institutional investors and hedge funds own 7.07% of the company's stock.

Genmab A/S Price Performance

Genmab A/S stock opened at $29.08 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.17 and a current ratio of 2.18. The firm has a market cap of $18.13 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.82 and a beta of 0.84. The business's fifty day moving average is $26.53 and its two-hundred day moving average is $28.45. Genmab A/S Sponsored ADR has a 52 week low of $21.00 and a 52 week high of $35.43.

Wall Street Analysts Forecast Growth

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

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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