Genmab A/S (NASDAQ:GMAB) Hits New 12-Month Low – What’s Next?

Genmab A/S (NASDAQ:GMAB) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.62 and last traded at $18.66, with a volume of 1793889 shares traded. The stock had previously closed at $19.58.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GMAB. William Blair upgraded shares of Genmab A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Thursday, January 23rd. BNP Paribas raised shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Sanford C. Bernstein lowered Genmab A/S from a “market perform” rating to an “underperform” rating in a research report on Tuesday. Finally, Leerink Partners upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.33.

Genmab A/S Stock Down 4.7 %

The firm has a 50 day moving average of $20.81 and a 200-day moving average of $21.73. The company has a market cap of $12.35 billion, a P/E ratio of 10.72, a PEG ratio of 2.65 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.28 by $0.29. Genmab A/S had a return on equity of 16.78% and a net margin of 36.30%. On average, research analysts predict that Genmab A/S will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Genmab A/S by 94.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,104 shares of the company’s stock worth $636,000 after buying an additional 12,654 shares in the last quarter. AIMZ Investment Advisors LLC bought a new position in shares of Genmab A/S in the 4th quarter worth $3,525,000. HighTower Advisors LLC purchased a new stake in shares of Genmab A/S during the 3rd quarter worth $273,000. Verition Fund Management LLC bought a new stake in Genmab A/S during the third quarter valued at about $709,000. Finally, FMR LLC grew its stake in Genmab A/S by 13.5% in the third quarter. FMR LLC now owns 278,194 shares of the company’s stock valued at $6,782,000 after purchasing an additional 33,076 shares during the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

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.