Genmab A/S (NASDAQ:GMAB) Sees Unusually-High Trading Volume – Here’s Why

Genmab A/S (NASDAQ:GMAB) saw unusually-strong trading volume on Wednesday . Approximately 4,599,016 shares changed hands during mid-day trading, an increase of 203% from the previous session’s volume of 1,518,271 shares.The stock last traded at $19.79 and had previously closed at $19.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GMAB. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research report on Thursday, January 23rd. Sanford C. Bernstein raised Genmab A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, December 20th. Redburn Atlantic initiated coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $48.00 price objective (up previously from $46.00) on shares of Genmab A/S in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Stock Performance

The firm has a 50 day moving average price of $21.07 and a two-hundred day moving average price of $23.82. The company has a market cap of $13.11 billion, a P/E ratio of 19.24, a P/E/G ratio of 0.57 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The business had revenue of $816.10 million for the quarter, compared to the consensus estimate of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same quarter in the prior year, the business earned $0.47 EPS. On average, sell-side analysts predict that Genmab A/S will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Genmab A/S by 96.6% in the fourth quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock worth $45,000 after acquiring an additional 1,051 shares during the period. Blue Trust Inc. lifted its holdings in Genmab A/S by 892.0% during the 3rd quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock worth $108,000 after purchasing an additional 3,880 shares in the last quarter. R Squared Ltd bought a new position in Genmab A/S in the 4th quarter worth about $93,000. Allspring Global Investments Holdings LLC grew its holdings in Genmab A/S by 43.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock valued at $113,000 after buying an additional 1,413 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in shares of Genmab A/S during the third quarter valued at about $192,000. Institutional investors own 7.07% of the company’s stock.

Genmab A/S Company Profile

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.