First Republic Investment Management Inc. Sells 623 Shares of Genmab A/S (NASDAQ:GMAB)

Posted by Defense World Staff on Sep 8th, 2023

First Republic Investment Management Inc. reduced its position in shares of Genmab A/S (NASDAQ:GMAB – Free Report) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 57,309 shares of the company’s stock after selling 623 shares during the quarter. First Republic Investment Management Inc.’s holdings in Genmab A/S were worth $2,164,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. M&T Bank Corp raised its stake in shares of Genmab A/S by 22.8% in the 1st quarter. M&T Bank Corp now owns 6,864 shares of the company’s stock valued at $259,000 after purchasing an additional 1,274 shares during the period. American Century Companies Inc. grew its stake in Genmab A/S by 1.2% in the 1st quarter. American Century Companies Inc. now owns 617,588 shares of the company’s stock valued at $23,320,000 after buying an additional 7,209 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Genmab A/S by 111.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,109,871 shares of the company’s stock valued at $16,936,000 after buying an additional 585,924 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Genmab A/S during the 1st quarter worth approximately $3,635,000. Finally, Greenleaf Trust lifted its position in shares of Genmab A/S by 4.8% during the 1st quarter. Greenleaf Trust now owns 6,350 shares of the company’s stock valued at $240,000 after acquiring an additional 290 shares during the period. 6.29% of the stock is owned by institutional investors and hedge funds.

Genmab A/S Stock Performance

Shares of Genmab A/S stock opened at $37.70 on Friday. Genmab A/S has a 52-week low of $31.40 and a 52-week high of $47.50. The stock has a market capitalization of $24.90 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The company has a 50-day simple moving average of $38.53 and a two-hundred day simple moving average of $38.78.

Genmab A/S (NASDAQ:GMAB – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $613.43 million for the quarter, compared to the consensus estimate of $618.77 million. Genmab A/S had a net margin of 28.78% and a return on equity of 16.93%. As a group, equities research analysts forecast that Genmab A/S will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GMAB has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Genmab A/S in a research note on Monday, July 31st. UBS Group assumed coverage on Genmab A/S in a research note on Wednesday, May 31st. They set a “neutral” rating for the company. HC Wainwright restated a “buy” rating and set a $51.00 price objective on shares of Genmab A/S in a report on Tuesday. HSBC assumed coverage on shares of Genmab A/S in a research note on Friday, July 14th. They issued a “buy” rating for the company. Finally, BTIG Research started coverage on shares of Genmab A/S in a research note on Thursday, August 24th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Genmab A/S has a consensus rating of “Hold” and a consensus target price of $756.80.

Get Our Latest Analysis on Genmab A/S

Genmab A/S Profile

(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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.