Genmab A/S (NASDAQ:GMAB) Hits New 1-Year Low - Here's Why

Genmab A/S (NASDAQ:GMAB - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.62 and last traded at $18.66, with a volume of 1793889 shares traded. The stock had previously closed at $19.58.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GMAB. Truist Financial lowered their target price on Genmab A/S from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. BNP Paribas raised shares of Genmab A/S from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 11th. William Blair raised shares of Genmab A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 11th. Sanford C. Bernstein downgraded shares of Genmab A/S from a "market perform" rating to an "underperform" rating in a report on Tuesday. Finally, Leerink Partnrs raised shares of Genmab A/S from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.33.

Genmab A/S Price Performance

The stock has a market cap of $12.73 billion, a P/E ratio of 11.06, a PEG ratio of 2.65 and a beta of 0.98. The firm's fifty day moving average price is $20.76 and its two-hundred day moving average price is $21.71.

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Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.29. Genmab A/S had a return on equity of 16.78% and a net margin of 36.30%. On average, research analysts expect that Genmab A/S will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in Genmab A/S by 94.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,104 shares of the company's stock worth $636,000 after acquiring an additional 12,654 shares in the last quarter. AIMZ Investment Advisors LLC purchased a new position in shares of Genmab A/S in the 4th quarter worth about $3,525,000. HighTower Advisors LLC purchased a new position in shares of Genmab A/S during the 3rd quarter valued at about $273,000. Verition Fund Management LLC bought a new stake in Genmab A/S in the 3rd quarter worth approximately $709,000. Finally, FMR LLC boosted its stake in Genmab A/S by 13.5% in the third quarter. FMR LLC now owns 278,194 shares of the company's stock worth $6,782,000 after buying an additional 33,076 shares in the last quarter. 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.