Genmab A/S (NASDAQ:GMAB) Sees Large Volume Increase After Analyst Upgrade

Key Points

• Genmab A/S experienced a significant spike in trading volume, increasing by 61% to approximately 2.3 million shares after an upgrade from a buy to a strong-buy rating by Wall Street Zen.
• The stock has received mixed ratings from analysts, with a consensus price target of $40.00, as 1 analyst rated it Strong Buy, 7 rated it Buy, 2 rated it Hold, and 1 rated it Sell.
• Institutional investors have shown increased interest in Genmab, with significant stake increases from firms like Osaic Holdings and Squarepoint Ops, now collectively owning about 7.07% of the company's stock.

Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) saw unusually-strong trading volume on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. Approximately 2,317,331 shares changed hands during mid-day trading, an increase of 61% from the previous session's volume of 1,440,220 shares.The stock last traded at $28.75 and had previously closed at $29.07.

GMAB has been the topic of several other reports. HC Wainwright lifted their price target on shares of Genmab A/S from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Guggenheim raised shares of Genmab A/S from a "neutral" rating to a "buy" rating and set a $43.00 price target on the stock in a research note on Tuesday, September 23rd. Zacks Research downgraded shares of Genmab A/S from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Truist Financial lifted their price target on shares of Genmab A/S from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Genmab A/S presently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. grew its holdings in shares of 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 purchasing an additional 440 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Genmab A/S by 636.3% in the second quarter. Squarepoint Ops LLC now owns 94,233 shares of the company's stock worth $1,947,000 after purchasing an additional 81,434 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Genmab A/S in the second quarter worth approximately $200,000. Headlands Technologies LLC grew its holdings in shares of Genmab A/S by 551.7% in the second quarter. Headlands Technologies LLC now owns 10,166 shares of the company's stock worth $210,000 after purchasing an additional 8,606 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Genmab A/S by 4,407.5% in the second quarter. Tower Research Capital LLC TRC now owns 46,653 shares of the company's stock worth $964,000 after purchasing an additional 45,618 shares during the last quarter. Institutional investors own 7.07% of the company's stock.

Genmab A/S Stock Down 1.0%

The stock has a market cap of $18.46 billion, a P/E ratio of 14.47, a PEG ratio of 1.70 and a beta of 0.93. The firm's fifty day moving average price is $24.96 and its 200-day moving average price is $22.07.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.15. Genmab A/S had a net margin of 37.53% and a return on equity of 21.03%. The firm had revenue of $925.00 million for the quarter, compared to analysts' expectations of $5.77 billion. Genmab A/S has set its FY 2025 guidance at EPS. Sell-side analysts predict that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current year.

About Genmab A/S

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.