Genmab A/S (NASDAQ:GMAB) Reaches New 52-Week Low – Here’s What Happened

Shares of Genmab A/S (NASDAQ:GMAB) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.23 and last traded at $23.25, with a volume of 645297 shares trading hands. The stock had previously closed at $23.66.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial decreased their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. BTIG Research boosted their price target on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Redburn Atlantic started coverage on Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Genmab A/S has an average rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Stock Performance

The firm has a 50-day moving average price of $26.03 and a two-hundred day moving average price of $27.26. The firm has a market cap of $15.33 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. The company had revenue of $779.50 million during the quarter, compared to analysts’ expectations of $734.60 million. Research analysts anticipate that Genmab A/S will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

Institutional investors have recently modified their holdings of the business. DDD Partners LLC purchased a new position in shares of Genmab A/S during the 2nd quarter worth approximately $8,860,000. Capital International Investors increased its holdings in Genmab A/S by 7.8% during the 1st quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after acquiring an additional 315,355 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Genmab A/S by 109.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock worth $7,000,000 after purchasing an additional 145,689 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Genmab A/S by 7.6% in the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after acquiring an additional 103,859 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Genmab A/S in the 2nd quarter valued at about $1,354,000. 7.07% of the stock is owned by institutional investors and hedge funds.

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.