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

Shares of Genmab A/S (NASDAQ:GMAB) reached a new 52-week low during trading on Monday . The stock traded as low as $18.87 and last traded at $18.99, with a volume of 103803 shares changing hands. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. Sanford C. Bernstein upgraded shares of Genmab A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Genmab A/S currently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Stock Performance

The company has a market cap of $12.50 billion, a PE ratio of 18.34, a P/E/G ratio of 0.54 and a beta of 0.96. The stock’s 50-day simple moving average is $20.78 and its 200 day simple moving average is $23.30.

Hedge Funds Weigh In On Genmab A/S

A number of large investors have recently modified their holdings of the business. Legacy Wealth Asset Management LLC lifted its stake in shares of Genmab A/S by 1.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock valued at $1,097,000 after purchasing an additional 471 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in 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 buying an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Genmab A/S by 295.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $26,000 after acquiring an additional 939 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Genmab A/S by 105.4% during the 4th quarter. Lindbrook Capital LLC now owns 1,851 shares of the company’s stock worth $39,000 after acquiring an additional 950 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 period. 7.07% of the stock is owned by hedge funds and other institutional investors.

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.