Royal Bank of Canada Sells 57,940 Shares of Genmab A/S (NASDAQ:GMAB)

Posted by on Mar 6th, 2023

Royal Bank of Canada decreased its position in Genmab A/S (NASDAQ:GMAB – Get Rating) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,560 shares of the company’s stock after selling 57,940 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Genmab A/S worth $21,995,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in GMAB. Arrowstreet Capital Limited Partnership raised its stake in Genmab A/S by 63.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 869,221 shares of the company’s stock valued at $31,448,000 after purchasing an additional 338,902 shares in the last quarter. Capital International Investors lifted its stake in Genmab A/S by 7.7% in the first quarter. Capital International Investors now owns 3,952,446 shares of the company’s stock worth $145,433,000 after acquiring an additional 283,031 shares during the period. Wellington Management Group LLP lifted its position in Genmab A/S by 5.8% during the first quarter. Wellington Management Group LLP now owns 3,333,824 shares of the company’s stock valued at $120,618,000 after buying an additional 183,578 shares during the period. Folketrygdfondet raised its position in shares of Genmab A/S by 3,062.8% in the 2nd quarter. Folketrygdfondet now owns 157,066 shares of the company’s stock worth $5,104,000 after purchasing an additional 152,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Genmab A/S by 36.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 506,464 shares of the company’s stock worth $16,273,000 after purchasing an additional 136,616 shares during the last quarter. Institutional investors own 6.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GMAB. SVB Leerink boosted their price target on Genmab A/S from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, February 6th. AlphaValue upgraded Genmab A/S to a “reduce” rating in a research note on Thursday, November 17th. Cowen boosted their price objective on Genmab A/S to $43.00 in a research note on Tuesday, November 15th. Citigroup downgraded Genmab A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 20th. Finally, JPMorgan Chase & Co. boosted their price target on Genmab A/S from 3,450.00 to 3,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $632.62.

Genmab A/S Trading Up 0.9 %

GMAB opened at $36.70 on Monday. Genmab A/S has a 12-month low of $26.19 and a 12-month high of $47.50. The business’s fifty day simple moving average is $39.81 and its 200-day simple moving average is $39.31. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.57 and a beta of 0.97.

Genmab A/S Profile

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Genmab A/S is an international biotechnology company, which engages in the development of human antibody therapeutics for the treatment of cancer and other diseases. Its product pipeline include daratumumab, marketed as DARZALEX for the treatment of certain indications of multiple myeloma; teprotumumab-trbw marketed as TEPEZZA for the treatment of thyroid eye disease; and ofatumumab, marketed as Arzerra for the treatment of certain indications of chronic lymphocytic leukemia.

Further Reading

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Institutional Ownership by Quarter for Genmab A/S (NASDAQ:GMAB)

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