10 Worst Performing Healthcare Stocks in 2024

5. Genmab A/S (NASDAQ:GMAB)

Total YTD Return: -27.89% 

Genmab A/S (NASDAQ:GMAB) is a Danish biotech company focused on developing antibody therapies for cancer and severe diseases, using advanced platforms like bispecific T-cell engagers, immune modulators, and antibody-drug conjugates.

Genmab A/S (NASDAQ:GMAB)’s TEPKINLY, the first subcutaneous bispecific antibody targeting cancerous B-cells, was approved by the European Commission and aims to revolutionize cancer treatment by 2030. In July, the FDA approved EPKINLY (epcoritamab-bysp) for adults with relapsed or refractory follicular lymphoma (FL) after two or more systemic therapies. The approval, based on an 82% overall response rate in clinical trials, makes EPKINLY the first subcutaneously administered T-cell engaging bispecific antibody for FL in the U.S. It’s also approved for diffuse large B-cell lymphoma.

Genmab A/S (NASDAQ:GMAB)’s stock hit a new 52-week low of $20.47, reflecting a significant drop from its previous highs, placing it among the worst performing healthcare stocks. The stock has shown a downward trend, with a 31.15% decrease over the past year which indicates ongoing challenges in maintaining investor confidence.  In its latest earnings report, the company reported an earnings per share (EPS) of $0.29, which fell short of analysts’ expectations of $0.32. This miss contributed to negative perceptions about the company’s financial health and future growth prospects. It also reported revenue of $816.10 million, which was below the consensus estimate of $838.20 million. Such performance raises concerns about Genmab’s ability to generate sufficient revenue, especially in light of its ambitious goals in cancer treatment.

As tracked by the Insider Monkey database, 14 hedge fund holders held shares in Genmab A/S (NASDAQ:GMAB) in Q3 2024, with Renaissance Technologies being the largest stakeholder with shares worth $43.5 million.