Genmab A/S (NASDAQ:GMAB) Hits New 12-Month Low – Time to Sell?

Shares of Genmab A/S (NASDAQ:GMAB) reached a new 52-week low on Wednesday . The company traded as low as $22.15 and last traded at $22.17, with a volume of 227992 shares traded. The stock had previously closed at $22.75.

Analyst Ratings Changes

Several equities analysts have recently commented on GMAB shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Genmab A/S in a research report on Wednesday, September 11th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a report on Wednesday, October 16th. Truist Financial reduced their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Redburn Atlantic initiated coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Price Performance

The firm’s fifty day moving average price is $24.57 and its 200-day moving average price is $26.47. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 0.67 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. As a group, equities analysts forecast that Genmab A/S will post 1.29 earnings per share for the current fiscal year.

Institutional Trading of Genmab A/S

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Genmab A/S in the first quarter worth about $43,000. Janney Montgomery Scott LLC boosted its holdings in shares of Genmab A/S by 43.2% in the first quarter. Janney Montgomery Scott LLC now owns 17,369 shares of the company’s stock valued at $520,000 after acquiring an additional 5,238 shares in the last quarter. Grandfield & Dodd LLC increased its stake in shares of Genmab A/S by 3.4% during the first 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. Gallacher Capital Management LLC lifted its position in Genmab A/S by 17.9% in the first quarter. Gallacher Capital Management LLC now owns 7,865 shares of the company’s stock worth $235,000 after purchasing an additional 1,192 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Genmab A/S by 2.3% in the first 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. Institutional investors own 7.07% of the company’s stock.

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.