Genmab A/S (NASDAQ:GMAB) Shares Gap Down - Here's Why

Genmab A/S (NASDAQ:GMAB - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $19.58, but opened at $19.09. Genmab A/S shares last traded at $18.95, with a volume of 227,258 shares.

Wall Street Analyst Weigh In

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

Genmab A/S Stock Performance

The company has a 50 day moving average of $20.72 and a 200-day moving average of $21.70. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.65 and a beta of 0.98.

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Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Genmab A/S will post 1.45 EPS for the current year.

Institutional Trading of Genmab A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in Genmab A/S by 94.1% during the 3rd 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. Cerity Partners LLC increased its position in shares of Genmab A/S by 14.6% during the third quarter. Cerity Partners LLC now owns 48,003 shares of the company's stock worth $1,170,000 after purchasing an additional 6,103 shares in the last quarter. FMR LLC lifted its holdings in shares of Genmab A/S by 13.5% in the 3rd quarter. FMR LLC now owns 278,194 shares of the company's stock valued at $6,782,000 after purchasing an additional 33,076 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Genmab A/S in the 3rd quarter valued at about $709,000. Finally, HighTower Advisors LLC purchased a new position in Genmab A/S during the 3rd quarter worth approximately $273,000. Institutional investors and hedge funds 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.