Genmab A/S (NASDAQ:GMAB) Stake Boosted by Renaissance Technologies LLC
Renaissance Technologies LLC increased its stake in Genmab A/S (NASDAQ:GMAB) by 7.6% in Q2, owning 1,462,459 shares after acquiring an additional 103,859 shares. Other hedge funds also adjusted their positions in Genmab. The stock is currently trading down 0.9%, with a market cap of $8.33 billion and a PE ratio of 21.83. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $25.20. Genmab develops antibody therapeutics for cancer treatment, including DARZALEX and teprotumumab.
Renaissance Technologies LLC raised its position in shares of Genmab A/S (NASDAQ:GMAB - Free Report) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,462,459 shares of the company's stock after buying an additional 103,859 shares during the quarter. Renaissance Technologies LLC owned 0.22% of Genmab A/S worth $36,752,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Genmab A/S during the fourth quarter valued at approximately $393,000. Principal Securities Inc. acquired a new stake in shares of Genmab A/S in the fourth quarter worth $77,000. PNC Financial Services Group Inc. grew its holdings in shares of Genmab A/S by 5.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 165,187 shares of the company's stock valued at $5,260,000 after buying an additional 8,463 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Genmab A/S during the fourth quarter valued at $4,875,000. Finally, Assetmark Inc. raised its position in Genmab A/S by 6.4% during the fourth quarter. Assetmark Inc. now owns 43,518 shares of the company's stock valued at $1,386,000 after buying an additional 2,636 shares during the period. 7.07% of the stock is owned by hedge funds and other institutional investors.
Genmab A/S Trading Down 0.9 %
GMAB stock opened at $26.20 on Thursday. The firm has a market cap of $17.33 billion, a PE ratio of 21.83, a PEG ratio of 0.81 and a beta of 0.99. Genmab A/S has a 1 year low of $24.53 and a 1 year high of $37.97. The company has a fifty day simple moving average of $27.29 and a 200 day simple moving average of $28.02.
Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). The company had revenue of $779.50 million during the quarter, compared to analyst estimates of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. As a group, analysts forecast that Genmab A/S will post 1.27 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on GMAB shares. BTIG Research lifted their target price on 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 raised shares of Genmab A/S from a "sector perform" rating to an "outperform" rating in a research report on Monday, July 15th. Morgan Stanley reiterated 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. Truist Financial lowered their price target on shares of Genmab A/S from $53.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Genmab A/S in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.20.
View Our Latest Report on GMAB
About Genmab A/S
(Free Report)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.
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