Genmab, the Danish biotech company, on Wednesday priced its shares just above the bottom of the indicative range, signalling a possible slump in investor appetite for biotech stocks.

Genmab, which is seeking a dual listing on its home market, the Copenhagen Stock Exchange, as well Frankfurt's Neuer Markt for high-growth companies, priced its shares at €34.89 ($30.32), almost touching the bottom of the €34 to €40 indicated range.