Simplicity Wealth LLC Makes New Investment in Genmab A/S (NASDAQ:GMAB)

Simplicity Wealth LLC acquired a new stake in shares of Genmab A/S (NASDAQ:GMAB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,235 shares of the company's stock, valued at approximately $904,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Wealth LLC increased its holdings in Genmab A/S by 50.7% in the 4th quarter. NewEdge Wealth LLC now owns 119,989 shares of the company's stock worth $3,820,000 after acquiring an additional 40,382 shares during the last quarter. Keybank National Association OH bought a new stake in Genmab A/S in the third quarter worth $1,154,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Genmab A/S by 350.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,845 shares of the company's stock valued at $154,000 after purchasing an additional 3,770 shares during the period. Northern Trust Corp boosted its holdings in shares of Genmab A/S by 83.3% during the third quarter. Northern Trust Corp now owns 559,044 shares of the company's stock worth $19,717,000 after purchasing an additional 254,042 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in shares of Genmab A/S by 4.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 9,139 shares of the company's stock worth $322,000 after buying an additional 419 shares during the last quarter. 7.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GMAB shares. Citigroup downgraded Genmab A/S from a "neutral" rating to a "sell" rating in a report on Monday, January 22nd. Truist Financial restated a "buy" rating and issued a $50.00 price objective on shares of Genmab A/S in a report on Tuesday, March 26th. BMO Capital Markets upgraded Genmab A/S from a "market perform" rating to an "outperform" rating and increased their target price for the company from $46.00 to $48.00 in a research note on Friday, February 23rd. HC Wainwright restated a "buy" rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Monday. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Genmab A/S in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.50.

Genmab A/S Stock Down 1.0 %

Shares of Genmab A/S stock traded down $0.29 during trading hours on Monday, reaching $29.69. 247,010 shares of the stock traded hands, compared to its average volume of 580,217. Genmab A/S has a one year low of $26.32 and a one year high of $42.72. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 1.36 and a beta of 1.00. The company has a 50 day moving average price of $29.44 and a 200 day moving average price of $29.93.

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.

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