Genmab A/S (NASDAQ:GMAB) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of Genmab A/S (NASDAQ:GMAB) by 21.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,888 shares of the company’s stock after selling 2,902 shares during the quarter. Park Avenue Securities LLC’s holdings in Genmab A/S were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in Genmab A/S by 137.7% in the first quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 544 shares in the last quarter. GAMMA Investing LLC raised its holdings in Genmab A/S by 194.0% during the first quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock worth $34,000 after purchasing an additional 749 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Genmab A/S during the first quarter worth $43,000. Headlands Technologies LLC grew its holdings in Genmab A/S by 1,702.8% in the second quarter. Headlands Technologies LLC now owns 5,138 shares of the company’s stock valued at $129,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Genmab A/S by 7.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares in the last quarter. Institutional investors and hedge funds own 7.07% of the company’s stock.

Genmab A/S Trading Down 0.8 %

Shares of NASDAQ:GMAB opened at $23.53 on Monday. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.71 and a beta of 0.98. The stock’s 50-day moving average price is $26.08 and its two-hundred day moving average price is $27.30. Genmab A/S has a 12-month low of $23.24 and a 12-month high of $33.60.

Genmab A/S (NASDAQ:GMAB) last released its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. The company had revenue of $779.50 million during the quarter, compared to analyst estimates of $734.60 million. As a group, research analysts forecast that Genmab A/S will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GMAB. BTIG Research increased their price objective on shares of Genmab A/S from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada upgraded Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Morgan Stanley reissued an “equal weight” rating and issued a $31.00 price target on shares of Genmab A/S in a report on Wednesday, September 11th. Finally, Truist Financial decreased their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Genmab A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

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.