Genmab A/S ADS (GMAB)

Genmab A/S disclosed transactions involving shares and linked securities by managerial employees and their associated persons, in compliance with market abuse regulations.

Genmab (GMAB) stock has been beaten down lately, losing 14.7% over the past four weeks. However, the stock is now in oversold territory, and Wall Street analysts expect the company to report better earnings than they predicted earlier, indicating a potential turnaround in the near term.

AbbVie reported strong Q2 results, beating estimates for earnings and sales. The company's ex-Humira drugs, such as Rinvoq and Skyrizi, performed well, offsetting the decline in Humira sales. AbbVie raised its 2024 guidance for earnings and sales, driven by the strong performance of its newer drugs.

Denmark's stock market closed higher on Friday, with the OMX Copenhagen 20 index gaining 1.01%. The top performers were NKT Holding, Pandora A/S, and Genmab, while the worst performers were AP Moeller - Maersk A/S and Carlsberg A/S.

The biotech stock's lead therapy is looking at some competition.