Pictet Asset Management Holding SA Takes $33.84 Million Position in Genmab A/S Sponsored ADR $GMAB

Key Points

• Pictet Asset Management opened a new Q4 position in Genmab, buying 1,098,550 shares valued at about $33.84 million and now owning roughly 0.17% of the company, while institutional/hedge fund ownership stands at 7.07%.
• Analysts hold a consensus rating of Moderate Buy with an average price target of $39.36; several firms (including Truist, Goldman Sachs and HC Wainwright) have recently upgraded the stock, despite a Q4 EPS miss of $0.05 versus $0.46 and the shares trading near $26.11.

Pictet Asset Management Holding SA bought a new position in shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,098,550 shares of the company's stock, valued at approximately $33,835,000. Pictet Asset Management Holding SA owned 0.17% of Genmab A/S as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Founders Capital Management lifted its position in shares of Genmab A/S by 40.0% during the 4th quarter. Founders Capital Management now owns 1,400 shares of the company's stock worth $43,000 after purchasing an additional 400 shares during the last quarter. Parallel Advisors LLC increased its holdings in Genmab A/S by 11.3% in the third quarter. Parallel Advisors LLC now owns 4,139 shares of the company's stock valued at $127,000 after buying an additional 419 shares during the last quarter. CWM LLC increased its holdings in Genmab A/S by 18.8% in the fourth quarter. CWM LLC now owns 2,739 shares of the company's stock valued at $84,000 after buying an additional 433 shares during the last quarter. Osaic Holdings Inc. raised its stake in Genmab A/S by 37.8% in the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company's stock valued at $33,000 after buying an additional 440 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Genmab A/S by 29.1% in the third quarter. Jones Financial Companies Lllp now owns 1,951 shares of the company's stock valued at $57,000 after buying an additional 440 shares in the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GMAB shares. Wolfe Research assumed coverage on Genmab A/S in a research report on Friday, March 27th. They set an "outperform" rating and a $32.00 price objective for the company. Truist Financial upgraded Genmab A/S to a "strong-buy" rating in a research note on Monday. Wall Street Zen downgraded Genmab A/S from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. HC Wainwright increased their price target on shares of Genmab A/S from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group raised shares of Genmab A/S from a "neutral" rating to a "buy" rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.36.

Genmab A/S Stock Performance

Shares of GMAB stock opened at $26.11 on Thursday. The stock's 50-day moving average is $27.48 and its two-hundred day moving average is $30.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.01 and a current ratio of 2.02. Genmab A/S Sponsored ADR has a 1 year low of $18.89 and a 1 year high of $35.43. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.20 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.41). The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. Genmab A/S had a net margin of 25.89% and a return on equity of 17.35%. Analysts predict that Genmab A/S Sponsored ADR will post 1.18 earnings per share for the current year.

About Genmab A/S

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.