Genmab A/S Sponsored ADR $GMAB Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in Genmab A/S Sponsored ADR (NASDAQ:GMAB) by 28.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 241,520 shares of the company’s stock after selling 98,397 shares during the period. Bank of America Corp DE’s holdings in Genmab A/S were worth $6,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd lifted its stake in Genmab A/S by 30.2% in the 4th quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock valued at $444,089,000 after buying an additional 3,340,456 shares in the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of Genmab A/S by 84.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company’s stock valued at $216,827,000 after buying an additional 3,222,983 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Genmab A/S by 36.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock valued at $153,324,000 after acquiring an additional 1,334,919 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Genmab A/S by 26.4% during the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock worth $118,442,000 after purchasing an additional 921,700 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Genmab A/S by 84.3% during the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company’s stock worth $66,038,000 after purchasing an additional 1,126,069 shares during the period. Institutional investors and hedge funds own 7.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GMAB shares. HC Wainwright raised their price target on shares of Genmab A/S from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. TD Cowen raised shares of Genmab A/S from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $43.00 in a research report on Wednesday, July 22nd. New Street Research set a $43.00 price objective on shares of Genmab A/S in a research report on Wednesday, July 22nd. Guggenheim raised their target price on shares of Genmab A/S from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Truist Financial started coverage on shares of Genmab A/S in a report on Wednesday, May 27th. They set a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Genmab A/S Stock Performance

NASDAQ:GMAB opened at $33.75 on Thursday. The firm has a 50-day moving average of $29.35 and a two-hundred day moving average of $27.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.46 and a quick ratio of 2.44. The stock has a market cap of $21.04 billion, a P/E ratio of 26.58, a PEG ratio of 2.04 and a beta of 0.83. Genmab A/S Sponsored ADR has a 1-year low of $23.62 and a 1-year high of $35.43.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.17. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. On average, research analysts expect that Genmab A/S Sponsored ADR will post 1.17 earnings per share for the current fiscal year.

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.