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

Genmab A/S (NASDAQ:GMAB - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $20.03, but opened at $20.76. Genmab A/S shares last traded at $20.71, with a volume of 171,097 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GMAB. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Genmab A/S in a research report on Tuesday, August 20th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Genmab A/S in a research note on Wednesday, October 16th. BMO Capital Markets reiterated an "outperform" rating and issued a $48.00 price target (up from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. Redburn Atlantic assumed coverage on Genmab A/S in a research note on Tuesday, October 8th. They set a "buy" rating on the stock. Finally, Morgan Stanley restated an "equal weight" rating and issued a $31.00 price target on shares of Genmab A/S in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.20.

Genmab A/S Price Performance

The firm has a market capitalization of $13.33 billion, a P/E ratio of 19.55, a PEG ratio of 0.67 and a beta of 0.96. The company has a fifty day moving average of $22.01 and a 200 day moving average of $24.93.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. The firm had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. During the same period in the prior year, the company posted $0.47 earnings per share. On average, sell-side analysts forecast that Genmab A/S will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. MML Investors Services LLC increased its stake in shares of Genmab A/S by 5.4% in the 3rd quarter. MML Investors Services LLC now owns 73,261 shares of the company's stock valued at $1,786,000 after acquiring an additional 3,785 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Genmab A/S by 116.4% in the third quarter. XTX Topco Ltd now owns 25,429 shares of the company's stock worth $620,000 after purchasing an additional 13,678 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Genmab A/S by 84.1% in the third quarter. Two Sigma Advisers LP now owns 615,100 shares of the company's stock valued at $14,996,000 after purchasing an additional 280,900 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Genmab A/S by 56.8% during the third quarter. Quantinno Capital Management LP now owns 24,207 shares of the company's stock valued at $590,000 after buying an additional 8,766 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Genmab A/S during the third quarter worth $273,000. 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.