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

Genmab A/S (NASDAQ:GMAB)’s share price hit a new 52-week low on Tuesday . The company traded as low as $19.27 and last traded at $19.08, with a volume of 38725 shares traded. The stock had previously closed at $20.80.

Wall Street Analyst Weigh In

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 report on Friday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a report on Thursday, January 23rd. Redburn Atlantic assumed coverage on Genmab A/S in a report on Tuesday, October 8th. They set a “buy” rating for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $48.00 target price (up from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Stock Down 6.9 %

The stock has a market cap of $12.81 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.57 and a beta of 0.97. The business’s 50-day simple moving average is $21.08 and its two-hundred day simple moving average is $23.91.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. During the same quarter in the prior year, the business earned $0.47 EPS. Analysts anticipate that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of GMAB. GAMMA Investing LLC lifted its holdings in shares of Genmab A/S by 96.6% in the 4th quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock worth $45,000 after acquiring an additional 1,051 shares during the last quarter. R Squared Ltd purchased a new stake in Genmab A/S during the fourth quarter valued at about $93,000. Blue Trust Inc. grew its stake in shares of Genmab A/S by 892.0% during the third quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock valued at $108,000 after buying an additional 3,880 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Genmab A/S by 43.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock worth $113,000 after purchasing an additional 1,413 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Genmab A/S by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,891 shares of the company’s stock valued at $186,000 after acquiring an additional 827 shares during the period. 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.