Genmab A/S (NASDAQ:GMAB) Shares Gap Down to $29.96

Genmab A/S (NASDAQ:GMAB - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $29.96, but opened at $29.35. Genmab A/S shares last traded at $29.50, with a volume of 311,725 shares traded.

Wall Street Analysts Forecast Growth

GMAB has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price target on shares of Genmab A/S in a report on Wednesday, March 27th. Truist Financial reaffirmed a "buy" rating and issued a $50.00 price target on shares of Genmab A/S in a report on Tuesday, March 26th. Morgan Stanley reaffirmed an "underweight" rating on shares of Genmab A/S in a report on Tuesday, March 26th. UBS Group upgraded Genmab A/S from a "neutral" rating to a "buy" rating in a research note on Wednesday, December 6th. Finally, BMO Capital Markets upgraded Genmab A/S from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $46.00 to $48.00 in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $48.50.

Genmab A/S Price Performance

The company has a 50-day simple moving average of $29.00 and a 200-day simple moving average of $30.84. The stock has a market cap of $19.36 billion, a PE ratio of 30.42, a PEG ratio of 1.41 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $675.29 million during the quarter, compared to analysts' expectations of $678.14 million. Genmab A/S had a return on equity of 18.06% and a net margin of 26.50%. On average, equities analysts expect that Genmab A/S will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GMAB. First Manhattan Co. acquired a new stake in Genmab A/S in the fourth quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in Genmab A/S in the third quarter valued at $27,000. Pinnacle Bancorp Inc. grew its holdings in Genmab A/S by 315.8% in the fourth quarter. Pinnacle Bancorp Inc. now owns 840 shares of the company's stock valued at $27,000 after purchasing an additional 638 shares during the last quarter. NBC Securities Inc. acquired a new stake in Genmab A/S in the third quarter valued at $37,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Genmab A/S by 86.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,075 shares of the company's stock valued at $38,000 after purchasing an additional 498 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 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.