Genmab A/S (NASDAQ:GMAB) Reaches New 1-Year Low – Time to Sell?

Shares of Genmab A/S (NASDAQ:GMAB) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $22.26 and last traded at $22.26, with a volume of 35086 shares changing hands. The stock had previously closed at $22.57.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada upgraded shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research report on Wednesday, October 16th. Truist Financial cut their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Genmab A/S presently has a consensus rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Stock Down 1.2 %

The company’s fifty day simple moving average is $25.07 and its 200 day simple moving average is $26.69. The firm has a market capitalization of $14.76 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.68 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last released its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. The business had revenue of $779.50 million for the quarter, compared to analysts’ expectations of $734.60 million. Equities research analysts forecast that Genmab A/S will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Genmab A/S

Several large investors have recently made changes to their positions in GMAB. Legacy Wealth Asset Management LLC increased its position in shares of Genmab A/S by 1.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock valued at $1,097,000 after acquiring an additional 471 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Genmab A/S by 7.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock worth $182,000 after purchasing an additional 478 shares during the period. Russell Investments Group Ltd. grew its position in Genmab A/S by 137.7% in the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock worth $28,000 after purchasing an additional 544 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Genmab A/S by 2.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 27,755 shares of the company’s stock worth $830,000 after purchasing an additional 633 shares during the period. Finally, Grandfield & Dodd LLC grew its position in shares of Genmab A/S by 3.4% during the 1st quarter. Grandfield & Dodd LLC now owns 26,418 shares of the company’s stock valued at $790,000 after acquiring an additional 860 shares during the period. 7.07% of the stock is currently 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.