Genmab A/S (NASDAQ:GMAB) Hits New 12-Month Low - Here's What Happened

Shares of Genmab A/S (NASDAQ:GMAB - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $20.32 and last traded at $20.34, with a volume of 53103 shares. The stock had previously closed at $20.65.

Wall Street Analyst Weigh In

Several research firms have recently commented on GMAB. Redburn Atlantic assumed coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They set a "buy" rating on the stock. Morgan Stanley reaffirmed 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. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Wednesday, October 16th. Truist Financial cut their price objective on shares of Genmab A/S from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. reissued 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 issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.20.

Genmab A/S Trading Down 2.3 %

The firm has a 50-day moving average of $22.15 and a two-hundred day moving average of $25.09. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.67 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 EPS 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 analyst estimates 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 last year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that Genmab A/S will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors have recently added to or reduced their stakes in GMAB. Legacy Wealth Asset Management LLC lifted its position in Genmab A/S by 1.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company's stock worth $1,097,000 after purchasing an additional 471 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Genmab A/S by 7.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company's stock worth $182,000 after acquiring an additional 478 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Genmab A/S by 10.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company's stock worth $285,000 after acquiring an additional 1,121 shares during the period. Rhumbline Advisers boosted its position in shares of Genmab A/S by 7.1% during the 2nd quarter. Rhumbline Advisers now owns 18,694 shares of the company's stock valued at $470,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Genmab A/S by 43.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company's stock valued at $113,000 after acquiring an additional 1,413 shares during the period. 7.07% of the stock is owned by institutional investors and hedge funds.

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.