Genmab A/S Sponsored ADR $GMAB Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its stake in Genmab A/S Sponsored ADR by 26.4% in the first quarter, buying 921,700 additional shares and bringing its total to 4,414,550 shares worth about $118.4 million.
• Several other hedge funds also boosted their positions in GMAB, and institutional investors and hedge funds now own about 7.07% of the stock.
• Wall Street sentiment is mixed but generally positive: the consensus rating is Moderate Buy with a consensus price target of $39.28, while recent analyst targets range up to $43.00.

Renaissance Technologies LLC lifted its holdings in shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) by 26.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,414,550 shares of the company's stock after buying an additional 921,700 shares during the period. Renaissance Technologies LLC owned about 0.71% of Genmab A/S worth $118,442,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. CIBC Private Wealth Group LLC boosted its stake in shares of Genmab A/S by 291.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company's stock valued at $25,000 after buying an additional 616 shares in the last quarter. Osaic Holdings Inc. raised its position in Genmab A/S by 37.8% in the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company's stock worth $33,000 after acquiring an additional 440 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Genmab A/S in the first quarter valued at $34,000. NewEdge Advisors LLC lifted its holdings in Genmab A/S by 1,229.0% in the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company's stock valued at $38,000 after acquiring an additional 1,143 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Genmab A/S by 143.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company's stock worth $41,000 after purchasing an additional 780 shares in the last quarter. 7.07% of the stock is owned by institutional investors and hedge funds.

Genmab A/S Price Performance

Genmab A/S stock opened at $28.87 on Friday. The firm has a market capitalization of $18.00 billion, a PE ratio of 21.87, a P/E/G ratio of 1.83 and a beta of 0.84. Genmab A/S Sponsored ADR has a 52 week low of $21.00 and a 52 week high of $35.43. The firm's 50-day simple moving average is $26.82 and its 200 day simple moving average is $28.32. The company has a quick ratio of 2.17, a current ratio of 2.18 and a debt-to-equity ratio of 0.87.

Wall Street Analyst Weigh In

GMAB has been the subject of a number of research analyst reports. Truist Financial started coverage on shares of Genmab A/S in a report on Wednesday, May 27th. They issued a "buy" rating and a $40.00 price target for the company. BNP Paribas Exane upgraded shares of Genmab A/S from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. Weiss Ratings cut shares of Genmab A/S from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. New Street Research set a $43.00 price target on shares of Genmab A/S in a research report on Wednesday. Finally, TD Cowen raised Genmab A/S from a "hold" rating to a "buy" rating and boosted their price target for the stock from $32.00 to $43.00 in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Genmab A/S currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.28.

Genmab A/S Company 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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