Genmab A/S Sponsored ADR $GMAB Holdings Lessened by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its Genmab stake by 21.9% in the third quarter, selling 200,869 shares and retaining 718,179 shares valued at approximately $25.6 million. Institutional investors collectively own 7.07% of GMAB.
• Analysts remain broadly positive, with Genmab receiving a consensus “Moderate Buy” rating and an average price target of $42.50. Guggenheim, Truist Financial and TD Cowen recently raised their targets or upgraded the stock.
• Genmab shares opened at $37.37, near their 52-week high of $40.17. The company exceeded quarterly expectations with adjusted earnings of $0.54 per share versus $0.37 expected and revenue of $1.16 billion.

Perpetual Ltd lessened its stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 21.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 718,179 shares of the company's stock after selling 200,869 shares during the quarter. Perpetual Ltd owned approximately 0.12% of Genmab A/S worth $25,621,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Genmab A/S by 36.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company's stock valued at $153,324,000 after acquiring an additional 1,334,919 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Genmab A/S by 26.4% in the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company's stock valued at $118,442,000 after acquiring an additional 921,700 shares during the last quarter. First Trust Advisors LP lifted its stake in Genmab A/S by 84.3% in the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company's stock worth $66,038,000 after purchasing an additional 1,126,069 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Genmab A/S by 14.4% in the 1st quarter. Quantinno Capital Management LP now owns 282,498 shares of the company's stock worth $7,579,000 after purchasing an additional 35,588 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Genmab A/S by 1.8% in the 1st quarter. Royal Bank of Canada now owns 150,135 shares of the company's stock worth $4,029,000 after purchasing an additional 2,637 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on GMAB shares. Weiss Ratings raised shares of Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. Guggenheim lifted their target price on Genmab A/S from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, October 5th. Truist Financial boosted their target price on Genmab A/S from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, October 7th. New Street Research set a $43.00 price target on Genmab A/S in a research note on Wednesday, July 22nd. Finally, TD Cowen upgraded Genmab A/S from a "hold" rating to a "buy" rating and raised their price target for the company from $32.00 to $43.00 in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Genmab A/S currently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

Genmab A/S Price Performance

Genmab A/S stock opened at $37.37 on Tuesday. Genmab A/S Sponsored ADR has a 52-week low of $23.62 and a 52-week high of $40.17. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81. The firm's fifty day moving average is $33.78 and its 200 day moving average is $29.46. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.72 and a beta of 0.81.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.17. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.12 billion. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. Sell-side analysts forecast that Genmab A/S Sponsored ADR will post 1.21 EPS for the current fiscal year.

Genmab A/S Company Profile

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including its DuoBody and HexaBody platforms, to create therapies designed to engage the immune system, target disease-related proteins and improve treatment outcomes.

Genmab's portfolio includes products developed through partnerships as well as internally discovered candidates.

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