SummitTX Capital L.P. Makes New Investment in Genmab A/S Sponsored ADR $GMAB

Key Points

• SummitTX Capital acquired 84,354 Genmab shares worth approximately $2.26 million in the first quarter, while several other institutional investors also increased or initiated positions. Hedge funds and institutional investors collectively own 7.07% of GMAB.
• GMAB opened at $29.00, with a market capitalization of approximately $18.08 billion. The stock has traded between $21.00 and $35.43 over the past year.
• Analysts largely remain positive: Genmab has a consensus “Moderate Buy” rating and an average price target of $39.28, despite one analyst downgrade to sell.

SummitTX Capital L.P. acquired a new stake in Genmab A/S Sponsored ADR (NASDAQ:GMAB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 84,354 shares of the company's stock, valued at approximately $2,263,000.

A number of other hedge funds also recently made changes to their positions in GMAB. Paradigm Biocapital Advisors LP acquired a new position in shares of Genmab A/S during the third quarter worth $117,063,000. Orbis Allan Gray Ltd grew its holdings in 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 valued at $444,089,000 after purchasing an additional 3,340,456 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Genmab A/S by 36.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company's stock valued at $153,324,000 after purchasing an additional 1,334,919 shares in the last quarter. First Trust Advisors LP lifted its holdings 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 buying an additional 1,126,069 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in Genmab A/S in the 4th quarter valued at about $33,835,000. Hedge funds and other institutional investors own 7.07% of the company's stock.

Genmab A/S Stock Performance

Shares of GMAB opened at $29.00 on Wednesday. The business's fifty day moving average price is $26.93 and its 200 day moving average price is $28.23. Genmab A/S Sponsored ADR has a 12-month low of $21.00 and a 12-month high of $35.43. The stock has a market capitalization of $18.08 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.18 and a quick ratio of 2.17.

Analyst Ratings Changes

GMAB has been the subject of several recent analyst reports. Truist Financial started coverage on Genmab A/S in a research note on Wednesday, May 27th. They set a "buy" rating and a $40.00 target price for the company. The Goldman Sachs Group upgraded Genmab A/S from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 22nd. New Street Research set a $43.00 price target on Genmab A/S in a report on Wednesday, July 22nd. BNP Paribas Exane raised Genmab A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered Genmab A/S from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given 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 an average target price of $39.28.

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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