Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Genmab A/S saw elevated trading interest on Friday, with about 1.12 million shares changing hands, though that was still down 38% from the prior session. The stock last traded at $29.02, below its previous close of $29.78.
• Wall Street sentiment remains generally positive, with several analysts issuing or raising buy ratings and one lifting its price target to $40.00. Overall, Genmab has a consensus rating of Moderate Buy and an average price target of $38.21.
• The company, a Denmark-based biotechnology firm focused on antibody therapeutics for cancer, has a market cap of $17.92 billion. Institutional investors own 7.07% of the stock, and hedge funds have recently increased or initiated positions.

Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) saw an uptick in trading volume on Friday . Approximately 1,119,952 shares changed hands during mid-day trading, a decline of 38% from the previous session's volume of 1,795,576 shares.The stock last traded at $29.0240 and had previously closed at $29.78.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial initiated coverage on Genmab A/S in a research report on Wednesday, May 27th. They set a "buy" rating and a $40.00 price objective for the company. 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. Weiss Ratings downgraded Genmab A/S from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. 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. Finally, HC Wainwright raised their price objective on Genmab A/S from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Genmab A/S currently has a consensus rating of "Moderate Buy" and an average price target of $38.21.

Genmab A/S Stock Down 3.5%

The stock has a market capitalization of $17.92 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.90 and a beta of 0.84. The business has a 50-day moving average price of $26.38 and a 200 day moving average price of $28.57. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its stake in shares of Genmab A/S by 291.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company's stock worth $25,000 after purchasing an additional 616 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Genmab A/S by 37.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,603 shares of the company's stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Genmab A/S in the first quarter worth approximately $34,000. NewEdge Advisors LLC lifted its stake in shares of Genmab A/S by 1,229.0% during the 3rd quarter. NewEdge Advisors LLC now owns 1,236 shares of the company's stock worth $38,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Genmab A/S by 143.4% during the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company's stock valued at $41,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 7.07% of the company's stock.

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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