Genmab A/S (NASDAQ:GMAB) Shares Gap Up – Time to Buy?

Genmab A/S (NASDAQ:GMAB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $19.06, but opened at $19.73. Genmab A/S shares last traded at $19.76, with a volume of 304,550 shares traded.

Analyst Ratings Changes

Several analysts have commented on GMAB shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Thursday, January 23rd. Sanford C. Bernstein raised Genmab A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, December 20th. Truist Financial cut their price target on Genmab A/S from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Leerink Partnrs upgraded Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Leerink Partners upgraded shares of Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genmab A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Genmab A/S Stock Performance

The stock’s 50 day simple moving average is $20.94 and its 200 day simple moving average is $22.00. The firm has a market capitalization of $13.11 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.65 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share for the quarter, topping 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, analysts anticipate that Genmab A/S will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently modified their holdings of GMAB. China Universal Asset Management Co. Ltd. raised its position in shares of Genmab A/S by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,891 shares of the company’s stock worth $186,000 after acquiring 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 fourth quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $26,000 after buying an additional 939 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Genmab A/S by 105.4% in the 4th quarter. Lindbrook Capital LLC now owns 1,851 shares of the company’s stock valued at $39,000 after buying an additional 950 shares in the last quarter. GAMMA Investing LLC grew its position 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 buying an additional 1,051 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Genmab A/S by 10.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company’s stock worth $285,000 after buying an additional 1,121 shares during the last quarter. 7.07% of the stock is currently owned by 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.