Genmab A/S (NASDAQ:GMAB) Shares Gap Down - Here's Why

Shares of Genmab A/S (NASDAQ:GMAB - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $21.64, but opened at $20.39. Genmab A/S shares last traded at $20.23, with a volume of 657,605 shares trading hands.

Analyst Upgrades and Downgrades

GMAB has been the topic of several research reports. Sanford C. Bernstein upgraded shares of Genmab A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, December 20th. HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Genmab A/S in a report on Wednesday, January 8th. Redburn Atlantic initiated coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They set a "buy" rating for the company. Finally, BMO Capital Markets restated an "outperform" rating and issued a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.20.

Genmab A/S Stock Down 6.5 %

The firm's 50-day moving average price is $21.27 and its two-hundred day moving average price is $24.15. The firm has a market capitalization of $13.39 billion, a PE ratio of 19.64, a P/E/G ratio of 0.63 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $816.10 million for the quarter, compared to analysts' expectations of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities research analysts forecast that Genmab A/S will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Genmab A/S by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company's stock valued at $36,752,000 after purchasing an additional 103,859 shares during the period. Two Sigma Advisers LP increased its stake in Genmab A/S by 84.1% in the 3rd quarter. Two Sigma Advisers LP now owns 615,100 shares of the company's stock valued at $14,996,000 after buying an additional 280,900 shares during the period. Cubist Systematic Strategies LLC lifted its position in Genmab A/S by 109.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company's stock worth $7,000,000 after buying an additional 145,689 shares in the last quarter. FMR LLC boosted its stake in shares of Genmab A/S by 13.5% during the 3rd quarter. FMR LLC now owns 278,194 shares of the company's stock valued at $6,782,000 after buying an additional 33,076 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Genmab A/S by 6.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 232,243 shares of the company's stock valued at $5,662,000 after acquiring an additional 14,165 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.