Genmab A/S (NASDAQ:GMAB) Shares Gap Up – What’s Next?

Genmab A/S Sponsored ADR (NASDAQ:GMAB) shares gapped up before the market opened on Tuesday . The stock had previously closed at $28.01, but opened at $29.02. Genmab A/S shares last traded at $28.8810, with a volume of 263,490 shares trading hands.

Wall Street Analysts Forecast Growth

GMAB has been the topic of a number of research reports. The Goldman Sachs Group upgraded Genmab A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 22nd. BNP Paribas Exane upgraded Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Wolfe Research initiated coverage on Genmab A/S in a report on Friday, March 27th. They issued an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings cut Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Finally, HC Wainwright boosted their price target on Genmab A/S from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Genmab A/S presently has an average rating of “Moderate Buy” and an average target price of $38.21.

Genmab A/S Stock Performance

The company has a market cap of $18.42 billion, a P/E ratio of 22.38, a PEG ratio of 1.88 and a beta of 0.84. The business’s 50 day simple moving average is $26.32 and its 200 day simple moving average is $28.59. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Genmab A/S by 16.4% in the second quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock valued at $109,000 after acquiring an additional 561 shares in the last quarter. Summitry LLC grew its position in shares of Genmab A/S by 5.3% during the first quarter. Summitry LLC now owns 11,170 shares of the company’s stock worth $300,000 after purchasing an additional 567 shares in the last quarter. BankChampaign National Association purchased a new stake in shares of Genmab A/S during the first quarter worth about $687,000. Strategic Investment Advisors MI bought a new stake in Genmab A/S during the 1st quarter valued at approximately $137,000. Finally, EverSource Wealth Advisors LLC raised its stake in Genmab A/S by 51.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,597 shares of the company’s stock valued at $123,000 after purchasing an additional 1,565 shares during the period. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Company Profile

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.