Genmab A/S (NASDAQ:GMAB) Sees Strong Trading Volume - Here's Why

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) saw an uptick in trading volume on Tuesday . 2,502,857 shares changed hands during trading, an increase of 65% from the previous session's volume of 1,513,499 shares.The stock last traded at $20.74 and had previously closed at $20.68.

Analyst Ratings Changes

Several research firms have weighed in on GMAB. Wall Street Zen cut shares of Genmab A/S from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. William Blair upgraded Genmab A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 11th. Sanford C. Bernstein downgraded Genmab A/S from a "market perform" rating to an "underperform" rating in a research note on Tuesday, April 1st. Truist Financial lowered their price objective on Genmab A/S from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Finally, HC Wainwright reissued a "buy" rating and issued a $37.00 target price (down previously from $50.00) on shares of Genmab A/S in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.17.

Genmab A/S Price Performance

The firm has a fifty day moving average price of $20.97 and a 200-day moving average price of $20.72. The company has a market capitalization of $13.15 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 6.77 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.08. Genmab A/S had a net margin of 35.11% and a return on equity of 18.08%. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $5.17 billion. On average, research analysts forecast that Genmab A/S Sponsored ADR will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

Institutional investors have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd lifted its stake in shares of Genmab A/S by 102.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 5,710,741 shares of the company's stock valued at $111,816,000 after buying an additional 2,895,179 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Genmab A/S during the fourth quarter worth $41,740,000. Renaissance Technologies LLC raised its stake in shares of Genmab A/S by 7.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,926,150 shares of the company's stock valued at $40,199,000 after purchasing an additional 139,722 shares during the period. Brandywine Global Investment Management LLC boosted its stake in Genmab A/S by 6.0% in the 1st quarter. Brandywine Global Investment Management LLC now owns 1,717,397 shares of the company's stock worth $33,627,000 after purchasing an additional 97,633 shares during the period. Finally, Two Sigma Investments LP grew its holdings in Genmab A/S by 122.2% during the 4th quarter. Two Sigma Investments LP now owns 1,706,364 shares of the company's stock valued at $35,612,000 after buying an additional 938,455 shares in the last quarter. 7.07% of the stock is owned by hedge funds and other institutional investors.

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.